Such a strong report by a financial institution has to help others in the same sector. Rates have been rising but gradually, which gives some banks opportunity to adjust.
Supplies are pretty lush. Once this report is digested we should see a big decline in prices. The geopolitical concern and economic growth are still there in the background supporting prices.
The retail sales report was the most significant piece of data we had in weeks and that certainly had the stock market going. It points to a solid first quarter, with earnings growth.
The most disconcerting part of the PPI report today was the rate of final core producer price pressures in January.
I don't think the energy prices that have only gone up since this report are some transitory aberration,