Sen Minority Leader Mitch McConnell: It may take a recession to crush inflation

US Senate minority leader Mitch McConnell is on the wires saying that it may take a recession to crush inflation.

Meanwhile in the US stock market, after opening lower, the major indices have seen a recovery. Both the S&P and the NASDAQ indices have traded in positive territory. The NASDAQ is near unchanged currently. The S&P is down modestly. The Dow industrial average got close to unchanged levels but has since backed off and currently trades down around -130 points.

A snapshot of the market currently shows:

• Dow industrial average -132.15 points or -0.40% at 33080.82. The high price reached 33187.11 got within 25 point from unchanged on the day
• S&P index is down -11.48 points or -0.28% at 4146.75. It's high price reached 4159.48. At the session lows, the S&P index tested its 200 hour moving into 4103.94. The low price reached 4104.88 today.
• The NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index is up 4.56 points or 0.04% at 12135.69. It's 200 hour moving averages at 12106.70. The current prices just above that moving average level tilting the shorter-term bias more in favor of the buyers (although the price has traded above and below that moving average today)