All of the buzz is about General Flynn and his resignation, but we are investors, we care about the money matters. Let’s Go!
$1 After Fed Chief Janet Yellen’s testimony before Congress yesterday, markets continue to buy into the big banks. Chief among the winners today was Bank of America ($BAC) gaining over 2%. An interest rate hike in March just reaffirms everyone’s optimism about the banking sector. Keep a close eye.
$2 The consumer price index (CPI) blew away expectations, raising hopes for higher overall inflation for the economy. Higher inflation leads to higher prices and raises hopes for higher wages. This is a sign that the bull markets still have some steam, but we may be approaching a crest.
$3 Speaking of higher wages, Andrew Puzder, Trump’s Labor Secretary nominee, withdrew his name from consideration today. This is a win for those looking for higher minimum wages as Puzder was very much opposed to hikes. Remains to be seen who Trump turns to as a replacement.
Agility continues as the word for the year.