This morning we're being dominated by two factors -- positive news across the pond and a little bounce off of yesterday's sharp sell-off.
More Quotes from Paul Mendelsohn:
Intel is going to have to have a very, very good report, or we could see more selling in that sector.Paul Mendelsohn
It's a big week on the international front and not just from our side. The Bank of England and the Bank of Canada will be making announcements next week plus the Bank of Japan says it's going to start draining liquidity from its system in advance of its first rate hike in years.
Paul Mendelsohn
Hopes for a good report on consumer confidence today is helping stock futures this morning. Any signs of higher confidence, which turn into higher spending, will be supportive to the markets.
Paul Mendelsohn
There is so much uncertainty in the energy, metals and commodity markets and at the same time we're not getting a very clear picture on what 2006 is going to look like from fourth-quarter earnings.
Paul Mendelsohn
The PPI is important because it's the first piece of real inflation data of the year. And while the PPI has been rising, the CPI has not been keeping pace. Corporate America must be getting squeezed in the middle.
Paul Mendelsohn
Everyone is setting up for tomorrow's employment reports. It's a big mover of all markets, so people don't want to be caught on the wrong side. People want to go in neutral. We'll see this position squaring across the board ahead of that number.
Paul Mendelsohn
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