Stonks Roaring Back

It looks like all the Omi-worry of last week has evaporated as the stonk market is soaring again this morning. We'll wait to see now if everything else that has been hammered over the past 10 days begins to recover, too.

Let's start with the stonk market. As you know, it has been on a 45-degree trajectory for over a year, with the occasional pause and dip to its 50-day MA. After rallying about 20 S&P points yesterday, it's up another 90 this morning! So is the worst over? Has Omi already been revealed to be an even less deadly mutation than the previous forms? Maybe....

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Key Economic Events Week of 8/8

8/8 11:00 ET NY Fed Inflation Exp.
8/9 8:30 ET Unit Labor Costs
8/10 8:30 ET CPI
8/11 8:30 ET PPI
8/12 8:30 ET Import Price Index
8/13 10:00 ET UMich Consumer Sentiment
8/13 10:00 ET UMich Inflation Exp.

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