The S&P 500 closed up +0.6% overnight, closing at its highest level since February when it posted its all-time high. Optimism surrounding trade talks with China fuelled the gains, but attention will shift back home tonight when the US inflation data (CPI) is released. A print around the 0.3% consensus is likely to pave the way for an assault on new highs by US stocks.
- We continue to believe it’s a matter of when, not if, the S&P 500 makes fresh all-time highs.
MM remains cautiously bullish toward US stocks
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