Wall Street shook off nearly 40-year high inflation data Friday to push the S&P 500 right back up to new closing records. Inflation jumped 6.8% in November, which actually came in below some estimates of 7% or higher.
Investors remain focused on the positives, despite soaring prices that might force the Fed’s hand sooner than projected, as they think back to where the economy was in late 2020. Plus, Wall Street has continued to pour cash in ever since it appeared relatively clear the new covid variant wouldn’t lead to major lockdowns in the U.S. or a massive global shutdown.
JP Morgan also came out with a very bullish note Wednesday. The Wall Street titan, specifically its chief global markets strategist Marko Kolanovic wrote in a note to clients: “Our view is that 2022 will be the year of a full global…