Editor’s Note:

This is the Afternoon Capsule that was provided before CPI was released.  CPI was released this morning.  To see the latest on CPI, please see the Morning Capsule that is available to paying subscribers.  The Morning Capsule is issued every morning before the market open.

To gain an edge, this is what you need to know now.

Industrial Stocks Hit A New High

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

  • The key feature of today’s trading is that industrial stocks, as represented by XLI, are hitting a new high on the belief that there will be no recession.