This morning we are up.

There's no news or no reason but we're bouncing a bit this morning after being down 1.2% on the S&P 500 last week.  CPI is our big data point for the week and we have to wait until Friday and it's a quiet week for the Fed – so data is pretty much all we have with earnings winding down – and there's not much of that either.

CPI was up 8.3% year/year as of April and is expected to calm down to 8.2% in May but I'm not so sure as oil and gasoline looked like this in May vs April:

That's higher, right?  Now, I'm no "Leading Economist" but when Oil and Gasoline are 5-10% higher during the month – it's a little hard to imagine how general prices came down but maybe I'm too dumb to understand the nuances of economics?

Cotton and Orange Juice?

Corn and Rice?...