The market continues Friday's strength in the first trading session of the week with most NASDAQ components bought in the morning, pulling SPY up from the 390 area right at the open and continuing to run to near 394 before meeting resistance amid a strong mega-cap tech rally on the back of bonds yield dropping quite deeply since Thursday last week.
Not only has stock market sentiment improved, but consumer inflation expectations in the NY FED survey also hit the lowest level since 07/2021 with 5-year inflation at 5.00%, 3-year at 3.00%, and 1-year at 2.42%:
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