DBI Today: 50.3 (+2.4)
Wall Street spent Tuesday doing something it hasn't managed in a while: shrugging off bad news from the Gulf. Even as the US and Iran traded strikes for a fourth straight day and oil pushed to a one-month high, American stocks rallied, big banks posted blowout earnings, and a inflation report came in cooler than almost anyone expected. That tension — geopolitical risk rising in one hand, encouraging economic data in the other — pushed the Daily Business Index, our daily 0-to-100 readout of global business health where 50 marks neutral, up to 50.3 from 51.6... from 47.9. Conditions have moved back into slightly-better-than-neutral territory, but the gains sit on genuinely shaky ground.
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