Per below, the whole US yield curve shifted up in reaction to the data (see prior post), including the 2-year which traded above 5% as markets pushed to December the expectation of the first rate cut by the #FederalReserve. (Amazing to think that, just four months ago, #markets… pic.twitter.com/gmZDG1xxGU

If the Dow rises today for the 5th straight day, it would be the first time that’s happened since December. @CNBC @peterschack #SchackAlert 🔥 pic.twitter.com/qbtKwM5qfJ

FUNDSTRAT: “.. $SPX and $QQQ have rallied sufficiently to think that a short-term low should be in place .. While this move might not prove to be a straight shot .. higher prices are likely into May. SPX target on this move should materialize near 5400.” - @MarkNewtonCMT pic.twitter.com/BExigTx6WK

Passive fund ownership of the S&P 500 is about 24% today- up from 7% ten yrs ago. Meaning that on average an SPX stock has 24% of its shares out owned by index funds (which can incl smart-beta or themes tho). Great study out today from @JSeyff here: blinks.bloomberg.com/news/stories/SCG8DSDWX2PS pic.twitter.com/0eohjr8hth