Inflation is nothing to worry about.
The benign employment news leaves the bears once again grasping for air. But the bottom line is that inflation is under control and earnings are strong. That combination is a bear killer. The Dow is now just below is all-time closing high of 11,326.04 set on August 25th. The Nasdaq composite index, which has set 18 records in the past five weeks, broke through the 3,500 barrier just a month after breaking above 3,000 for the first time.