U.S. equities are rallying hard: the S&P 500 +1.49% at 7,765, the Nasdaq +2.26% at 27,122, the Dow +0.71% at 52,050. The VIX sits at 14.8 (+0.3% today), inside its normal range.
The 10-year Treasury yield is easing at 4.96% — the number behind mortgage rates and Washington's interest bill. The dollar index is at 100.4 (+0.2%). Elsewhere: gold down 0.9% at $4,383/oz; WTI crude down 8.1% at $92.16/bbl; Bitcoin at $86,613 (+6.7%).
Among big names, INTC leads gainers at +12.14%, while XOM lags at -3.14%. Rate moves and energy prices feed straight into the political fight over inflation — match this against the headlines above.