This morning it was really a story of positive earnings on the tape and no major hiccups on the economic front. All in all, it's going to play out as a respectable but not blow-out earnings season.
More Quotes from Bryan Piskorowski:
The fact that bonds are falling has the markets a little worried. The past couple times that oil spiked, bonds rose higher and the equity investors took solace in that. Now you've got to wonder if bonds are feeling the effects of inflation as well.Bryan Piskorowski
We're testing the bulls' resolve with all these economic data each day. Chicago PMI, due out tomorrow, is a May number, which is important.
Bryan Piskorowski
The Fed cut 100 basis points (one percentage point) in January and we've got another 50 under our belt now. Monetary policy is a slow moving beast and ultimately it's going to take some time to turn this economy around.
Bryan Piskorowski
It looks like a lack of bad news has brought out a little short-covering. It's a respectable open after the last couple of days we've had, but I'm hard-pressed to call it any trend.
Bryan Piskorowski
We've got some decent data points to work through over the rest of the week. The new home sales, initial jobless claims are particularly important and Friday we have Michigan sentiment. But it's been the case of late that if the news is good, nothing happens and if the news is bad, we sell, so we'll have to see how these reports play out.
Bryan Piskorowski
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Based on Topics: Economics QuotesBased on Keywords: blow-out, hiccups
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