SPDR S&P 500 (SPY)

[Schneidku40]

Markit PMI numbers interesting this morning. PMI for manufacturing rose to 59.1 vs 57.1 prior month (57.0 expected) and PMI for services rose to 57.5 vs 54.8 prior month (53.5 expected).

But here's the kicker.... "RATE OF INPUT COST INFLATION FASTEST ON RECORD."

Also, supply chain constraints still persist. Supply chain shortages have developed at a pace never before seen in the survey's history. Business sentiment is the highest since 2015. But unemployment reading is the weakest since July.