January 23, 2013
(Posted 7:14 PST) Profit reports are driving a mixed but mostly positive market this morning. Economic reports on a macro basis are somewhat negative this morning highlighted by a reduction in the global growth forecast by the International Monetary Fund (IMF). Profit reports have generally surprised to the upside, adding to January investment gains. Reports of talks of a vote on the debt ceiling and the coming crucial vote are nothing more than a media circus generating pointless drama since the Republicans have already yielded the issue. Markets are responding nicely as uncertainty is removed from the equation. Gold and oil are near unchanged and interest rates remain stable. Apple reports profits after the bell today and will likely be a driver of markets tomorrow. Expect positive momentum to add to mild gains as the day wears on.
