The favourite data point that will determine whether Fed will hike interest rates is the cost of wages and unemployment data, Tonight we will get a some indication of the employment figures .Last week US employment cost index, saw biggest year-on-year gain since 2008. Yellen comment on Equities being overvalued all points to interest rate hike soon.
The most most obvious risk to a `MayDay MayDay' correction is the Fed tightening scare. But that will most likely require rising wage data.
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