Here's Everything You Need To Know Today

With a little more inflation data set to print on Thursday, the market is allowing itself a little more confidence as more firms post strong revenue beats while longtime losers are finally turning a corner.

Even if interest rates are held higher for longer—investors are showing a lot of confidence in a market full of firms rapidly transforming their operations into leaner, more profit-focused shops. The only question right now is if consumer spending can stay strong while wages rush to catch up with higher prices. Sure, there are some signs that U.S. consumers are running out of steam, but critical expenses like gasoline are continuing to stay low enough to give them a fighting chance. So, investors are shifting back to their classic focus on winners and losers. Some names hit a critical inflection point today and the market is ready to buy in droves. Meanwhile, other retail names still can’t generate the results investors need to stay on board long-term. Let’s take a look at some of the trends powering today’s price action and try to get a more granular understanding of where investors are rushing to today.