Everybody was waiting for the Bank of Japan's decision, and since they decided to postpone raising interest rates, that is taking the pressure off U. S. Treasuries and giving a lift to stocks.
More Quotes from Jim Awad:
The stock is selling around 15 with a 30-percent long-term growth rate, and 15 times earnings. It could double from here,Jim Awad
It's more news of good economic growth and low inflation. That takes pressure off of stocks.
Jim Awad
It's a tug of war between earnings and interest rates. The job numbers were stronger than expected. Hourly earnings, while for the month were as expected, came in for the year at a level that might make the Fed uncomfortable. The case is here that we have a strong economy we're creating jobs, wages are going up. That means for the time being corporate profits are in good shape.
Jim Awad
The non-manufacturing ISM index came in perfect, with higher orders and lower prices and that has given the market more confidence to make the assessment that Wal-Mart's problems were either Wal-Mart specific or retail sector specific and were not indicative of problems in the economy.
Jim Awad
The stock market welcomed both the CPI report and the decline in oil prices. The Fed can't justify too many rate increases with mild inflation.
Jim Awad
You started the day with some negative influences. The market was spooked by interest rates worldwide, and there was a very mixed reaction to Texas Instruments.
Jim Awad
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