CPI data came in higher than expected and the market initially went down but recovered. I to believe that the inflation story is already priced in and the market will continue to move higher. Earnings while weaker than previously expected will still be strong and companies will continue to innovate and work through the labor issues and will probably rely on less labor, which will be even more positive for earnings. If that was not the case, I believe the market would much lower than they are today.
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