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Earnings Are Trumping Headline Risks, Market Hits All-Time High and Settles Back

Key Takeaways

S&P 500 closed at 4,544.90 up from 4,471.37 last week. The last 10 days have marked the best reaction to earnings of S&P 500 components in the last two years.Despite recent actions by the Biden Administration, clogs in the supply chain are still very bad issues. This may be made worse by the holidays but will eventually alleviate.The VIX amazingly settled at $15.40 today, the lowest level since February 2020.We see dislocations in labor markets and in supply-chains as severe...

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