Expectations were for improvements in the economic news, but the reports today have surpassed those expectations, so you have investors finding more encouragement than they did in the reports released in mid-to-late November.
More Quotes from John Davidson:
The payrolls report would typically be the week's big event, but I think people are having a hard time with the report, because forecasts are all over the place due to confusion about the impact of the hurricanes.John Davidson
The earnings continue to be positive and analysts continue to upgrade their forecasts on both earnings and gross domestic product growth, but the expectations are largely built into the market.
John Davidson
The positive close was seen as laying a decent foundation for further moves to the upside. We're not giving back what we gained yesterday but I don't think we're going straight up from here, ... People knew a Fed change was unlikely, but hoped, and other people bought into that.
John Davidson
The belief has been that if the economy is recovering and corporate profits are improving, equity markets will fall in line eventually,
John Davidson
I think what you're seeing today and over the past week is a good indicator of where the market is right now and will likely be through the end of the year.
John Davidson
Where does the bond guy put his money now ... Stocks can absorb inflation more readily than bonds, because you can come through with better pricing power and stronger earnings.
John Davidson
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Based on Topics: Economics Quotes, Media & News QuotesBased on Keywords: mid-to-late
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