The rally continues around the world.
Shanghai was up modestly. India gained a whole percentage point. Hong Kong was up a solid 0.6%. And Europe is doing nicely, too. Spain’s IBEX is up nearly 0.5%.
But the US is down, with the NASDAQ leading the way, a situation obviously heavily impacted by the chatter about Steve Jobs’ health.
All eyes are on the big CPI report due out at 8:30. After yesterday’s big 0.5% jump in core PPI the question is, will we see inflation in the US or margin compression. We find out soon.
Oil, meanwhile, continues to look pretty weak.