There is no question that the tone has turned more positive. We haven't broken out yet, but the markets are poised. Now all we need is for the news to hit the ball out of the park, and it needs to be perfect. Crude is still high and the yield curve is still flat, but the market's focus is on other things right now.
More Quotes from Marc Pado:
The bulls had a real opportunity. Earnings continue to roll in, and for the most part they are in-line or better than expected.Marc Pado
And the forward-looking statements that companies are likely to give will probably be restrained given all the negatives that companies see rising interest rates, rising mortgages, a lot of concern.
Marc Pado
The 10-year has been trying to anticipate the fed funds rate. As soon as (Fed policy-makers) made it clear that they weren't going to stop at 4.75 percent, there was a big jump.
Marc Pado
Most everyone has rather positive expectations for double-digit (corporate earnings) growth for the first quarter. That is already 'baked in the cake'.
Marc Pado
The futures are off to a slightly lower start after the Group of Seven industrial nations made a firmer call for China to accelerate the exchange rate of the yuan. The dollar got hit in response.
Marc Pado
Obviously the Iranian thing is a wild card and nothing's going to get resolved in the short term, but the earnings are really what's key to the market and any longer-term perspective.
Marc Pado
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