OANDA – Retail Earnings Unable To Boost Stocks, UK Inflation Hits Highest Level Since 2011, Target Earnings, Mixed Housing Data, Oil Drops, Gold Rises, Bitcoin Hovers ~$60K

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Decent retail earnings were unable to send US stocks back into a record setting mode as cost pressures remain elevated for the foreseeable future. The S&P 500 index looks like it is going to be stuck in a range until investors feel confident that the Fed didn’t make a policy mistake and won’t be forced to raise rates sooner. Q3 2021 hedge fund letters, conferences and more Another round of Fed speak from Williams, Waller, and Mester did not provide any shifts over where the board stands on inflation. It wasn’t pretty, but the 20-year auction performed better than last week’s disappointing 30-y…

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