(As of 7:23 am pacific)
Stocks are rising this morning
on positive US economic data. Consumer
confidence is up and jobless claims are down.
Manufacturing numbers were slightly positive. Earnings are mixed. Gold and oil are close to unchanged while the
dollar is falling moderately as traders seem ready to embrace more risk. After one of the worst Octobers for the
markets in the last few years, this has the feel of a relief rally in that
economic reports are indicating that the economy is not struggling as much as
previously thought. Positive economic stimulus from China and a lack of bad
news out of Europe is further solidifying this positive momentum. It looks like a good day for the markets.
