(As of 7:20 am PST)
It's nosebleed altitude for
most market indexes as today's market action has a record high in sight for the
S&P 500 Index. Positive economic
data in the form of lower unemployment claims and a producer price index well
under control have added fuel to the flame.
International markets are also higher.
Oil is up slightly, with gold down a small amount. All systems are go as domestic economic
reports continue an impressive run of positive news. It is unusual to see a run of this length, so
watch out for some profit taking action as investors lock in gains. Don't expect much in the way of Federal Bank
intervention in the form of higher interest rates. The sequestration should keep the economy
from overheating at this point. Mortgage
rates continue to creep up but are still historically low and should be no
threat for the surging real estate recovery.
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