Bulls "Put One Over" On The Bears?

It didn't start out promising: CPI stronger than expected,jobless claims stronger than expected, but the market rallied quickly as bulls argued that inflation was peaking,that the U.S. is further along this weak economic cycle than anywhere else in the world, and the dollar rally would be helpful as well.

Beaten-up financials rallied, as did consumer discretionary names like autos, housing, and retailers. We are waiting for Nordstromand Kohlsafter the bell.

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