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Share: The SPDR S&P 500 ETF Trust (NYSE: SPY) took a big hit this week after the U.S. Labor Department reported a 4.2% rise in CPI for the month of April, the highest inflation reading since 2008. The big inflation number spooked investors who are concerned the $6 trillion in COVID-19 stimulus could trigger hyperinflation, but Sevens Report Research’s Tom Essaye said Thursday the headline inflation number may not be as bad as it appears at first glance. Digging Deeper: Essaye pointed out that a deeper dig into the April inflation number reveals airfare, used vehicles and lodging prices were all up 10% from a year ago. Essaye said those three markets endured massive, unsustainable jumps in prices related to specific catalysts: airfare and lodging prices jumped because of economic reopenings and used vehicle prices jumped because of semiconductor supply issues. ....
Photo by Jenise Jensen / Jenise Jensen Photography Don’t know what to do this weekend? Well, you’ve come to the right place. Pull up a seat to the counter, and I’ll tell you about everything that’s hot and happening. I noticed something peculiar while browsing Facebook the other day: events for live music indoors. Concerts weren’t unheard of over the past year, but I don’t recall seeing so many advertised at once. It’s a sign that people want to get out in the community again and that coronavirus case numbers and vaccination rates are improving. ....
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