(As of 7:15 am PT)
It has been a busy morning and a very positive one as far as economic data
reports. Markets are robustly higher. Most reports beat expectations.
New jobs created were higher although the unemployment rate ticked up to
7.9%. Consumer sentiment was higher and the ISM report came in better
than expected. Positive momentum is on a roll, but it may pull back as
the markets reflect on a raft of data, that although better than expected,
is not strong enough to match market expectations. Gold is up over 1%,
while oil is down. Interest rates have ticked down this morning. It
seems like an odd combination of market, interest and commodities data.
