Thursday’s data from Macy’s (NYSE:M) and upgraded forecasts from Dollar Tree (NASDAQ:DLTR) and Dollar General (NYSE:DG) back up our view of the market. While we expected positive inflation data that might boost the market, we should be wary of the upward trend rather than jump at the first sign of a clearing storm. And just this morning, the Personal Consumption Expenditures (PCE) report for April 2022 was released – the Federal Reserve’s preferred inflation gauge.