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.
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
The productivity and labor costs reports abated pressures (over) rising interest rates from the Fed, which is giving a kick to the market. Also, the storm in the East wasn't so bad, so oil pressure isn't bad.
Jim Awad
Both consumer confidence and housing starts were stronger than expected. Treasuries are getting killed, so people are worried interest rates will go even higher than expected.
Jim Awad
You're getting a relief rally in bonds ... and that's giving you what looks like at an attempt at a rally in stocks, despite the bad news out of Microsoft with the delay of its product. The GM news is also a minor positive.
Jim Awad
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.
Jim Awad
In terms of the Fed, the most favorable move from the market's point of view is if they raise interest rates by 25 basis points and keep the same language. If they raise 25 basis points and sound worried about inflation the market may get demoralized.
Jim Awad
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