Thoughts on recent inflation data and market reaction

The latest CPI print, while showing a slight moderation, still paints a picture of persistent inflationary pressures, especially in the services sector. This seems to be solidifying the 'higher for longer' narrative for rates, making me scrutinize growth stocks with higher P/E ratios even more closely. I'm keeping a keen eye on the upcoming jobless claims as a potential indicator of how much the Fed's actions are really starting to bite into the real economy. For now, defensive sectors and value plays are dominating my watchlist.