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S&P500 (SPX): the tech locomotive ignores the inflation shock
The US equity market continues to
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The US equity market continues to show surprising resilience. In the first half of the European session on Thursday, the S&P 500 updated its all-time high, trading above 7,470.00. This happened despite shocking producer price inflation (PPI) data, which rekindled fears of further monetary tightening. Investors instead leaned on the US-China leaders' meeting, hoping the summit would reduce trade risks, and refocused on the technology sector. Fundamental backdrop: ignoring reality, a hawkish pause, Warsh's nomination, and the US-China summit Yesterday, the main source
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