Keep on Trucking

(1) So far this year, S&P 500 has held up reasonably well despite lots of bearish noise. (2) Cyclical sectors mostly outperforming, while interest-rate-sensitive mostly underperforming. (3) SmallCaps at record high because they are less exposed to the global economy, which may be challenged by the strong dollar and protectionism. (4) Sounding the retreat alarm: Going back to Stay Home investment recommendation. (5) GDPNow now predicting 4.8% growth this quarter. (6) Record-high truck freight index belies shortage-of-truckers scare, as does truckers’ modest pay gain. (7) Our Earned Income Proxy at record high again. (8) Movie Review: “Adrift” (+ +).