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Market wraps higher despite negative sentiment index for consumers
Market direction unchanged as it continues to climb, eking out narrow gains to set new high records after investors digest most recent earnings results and economic data.
The S&P, specifically, had managed to post gains for the week as the optimism continues for the momentum of the economic recovery, which is supported by further positive results from the earnings reports.
The most recent print on the jobless claims have also contributed to the market sentiment, as the print shows a third consecutive weekly drop for new filings, although it is still far from the pre-pandemic levels.
There's also the new print on consumer prices that managed to hit the spot for consensus, however, the producer prices were higher than anticipated. The 7.8% increase year-over-year in the producer price index had been labelled the biggest increase in the last decade.
Closing this week's market on below list:
Redwood Capital Management Limited