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Have you guys had the chance to check out the most recent Consumer Price Index (CPI) report yet?
It was insane!
The CPI measures the average change in prices paid by households for consumer goods and services like transportation, food and medical care. And the month-to-month gain was 0.8% vs. the expected 0.2%.
The Nasdaq, which is known as the tech-heavy exchange, is now trading below its 50-day moving average.
So that tells us large-cap tech doesn't like the inflation coming our way. Heck, it's already here! There are no ifs, ands or buts about that.
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