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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