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Charlie Bilello, chief market strategist at Creative Planning, LLC, points to a $4,000 minimum entry fee at Madison Square Garden as a sign that inflation remains widespread.
Bilello adds that this environment calls for the Federal Reserve to hike interest rates as soon as possible.
Bilello has recently tracked a series of equity market milestones. He noted that the S&P 500 ended the week with four consecutive all-time highs, reaching a total of 22 for the year. In a separate update, he highlighted that the Nasdaq Composite climbed above 27,000 for the first time. These benchmarks add context to his latest commentary on inflation pressures.