HeatMap 17th Feb Friday - down up day again 

Check out today’s heat map:

6 of 11 sectors closed green. Consumer staples (+1.29%) led, and energy (-3.56%) lagged. 💚

The bond market has priced in higher rate expectations over the last two weeks following that record-hot January jobs data. Two big banks, Goldman and Bank of America, are now calling for three more U.S. rate hikes this year. And a second Fed Governor, Michelle Bowman, suggested she supported a 50 bp hike last meeting, saying that inflation remains “much too high.” 🥵

U.S. import prices fell 0.2% MoM and rose 0.8% YoY in January, marking the smallest annual gain since December 2020. Core import prices, which exclude fuel and food, rose 0.2%. 🔻

The market opened down and people are buying the dip to push the market higher.