13Oct10:25 amEST

Time for the Other CPI: The Chess Price Index

The frozen seafood (mostly shellfish) packet, below, is a product I have found particularly convenient over the last year or so--High quality protein without added oils, heats up quickly, and tastes good considering it has been frozen. 

Each packet has cost $3.99 at my local grocery story for as long as I can remember...until two weeks ago when the price rose to $4.99. 

Coincidence? I'll let you decide on that one.

But I have serious doubts these sorts of price increases (which may seem inconsequential on a standalone basis but certainly on a percentage basis and over the become more meaningful) will be transitory. 

As for the tape this morning, a pronounced fade in the Dow and small caps is being somewhat tempered by bulls going for rotation into tech. This tug-of-war should set the tone for the rest of the session, since JPM earnings (down 2.25% right now) and the other banks to follow tomorrow probably are not dictating to the market as a whole. 

Stock Market Recap 10/12/21 ... Stock Market Recap 10/13/21 ...

 
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