Stocks Are Testing New Highs As Inflation Comes In Hot (Again)

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The headwinds are blowing stronger and stronger, but most stocks are still defying gravity and, in a lot of cases, common sense. All three big indexes were looking strong in late trading today.

And this is all despite the fact that we got a hotter-than-expected CPI report this morning.

But Bitcoin, which, along with gold, has been beyond hot lately, racked up a 1.2% loss by 2 PM. Ether was off more than 2.6%. At this point, a pullback in cryptocurrency could mean the market is pivoting to a risk-off stance.

So let’s get while the getting’s good. There are a few Magnificent Seven stocks with favorable risk/reward ratios right now, along with some other names in AI. A lot depends on how interest rates finish this week.

So let’s have a look…

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