(As of 7:10 am PST)
Earnings season kicked off
yesterday. Alcoa was the first responder
and came in with a solid report and provided optimistic expectations for the
future. While that report was not
stellar, it did provide a base that investors liked and powered the markets
forward this morning. International
markets are moving up as well. Worries
over Fed policy are on the back burner for the time being, but we expect news
later in the week to throw some water on what seems like an overheated
scenario. There is little data coming
out today so optimism is likely to prevail and sustain the strong opening. Oil is down slightly and gold is pushing into
the second day of a strong bounce back rally.
Interest rates are stabilizing after surging yesterday.
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