There's a tug of war between earnings and interest rates. Earnings are continuing to overwhelm the worries about interest rates.
More Quotes from 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 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
We've just come off a very big quarter and so we have to digest some of those gains.
Jim Awad
It's more news of good economic growth and low inflation. That takes pressure off of stocks.
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
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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