The Nasdaq has trimmed its decline to 1.0% as dip buyers wade in.
There’s plenty of thinking about how to trade tomorrow’s non-farm payrolls report (which everyone expects to be strong) and next week’s CPI report (which everyone expects to be weak).
While the upside certainly looks compelling on NFP, I wonder if there’s a ‘sell the fact’ trade brewing on CPI as the market looks further out for signs of a re-ignition of inflation.
Nasdaq Comp, intraday
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