Wednesday, April 16, 2014

Economic Journal - Wednesday, 4/16/2014

(as of 7:30 AM PST)

Markets were strong out of the gate this morning.  There were some positive earnings results from tech companies Yahoo and Intel after the close yesterday and it set the stage for today’s moderate rally.  Economic data numbers were positive and that added to investor enthusiasm.  Housing starts were up as was industrial production.  After yesterday’s bizarre trading pattern for indices, we don’t really know what to expect as today’s action moves along.  Yesterday saw extreme swings in the market with the Dow down triple digits at one point only to finish up near triple digits.  The Nasdaq and SP500 saw similar swings.  It was quite a roller coaster.  Much of the action we should see could revolve around earnings season which is kicking in to high gear.  So far it has been good.  Gold and oil are near unchanged as are interest rates.

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