All in all, I think we're looking at a mixed reading in economic data but pointing to growth ahead. I think it'll continue to support a bullish atmosphere. Right now we're just looking at cautious trading ahead of the numbers and due to Europe being a little soft.
More Quotes from Peter Cardillo:
If we get a strong number (Friday) it could rekindle fears of another Fed tightening and that will keep investors on the defensive.Peter Cardillo
The market is trying to rally again and that's encouraging. But whether yesterday (Wednesday) was really the big capitulation day remains to be seen. The market is probably going to drift in the next week or so as it finds its footing after the run-up.
Peter Cardillo
For the market generally, a lot will depend on the guidance going forward, ... If it's mostly positive, that's one less thing for the market to worry about as it goes through the process of assessing what oil will mean for the economy.
Peter Cardillo
It's one of those days where investors are looking at the strong economic news for what it says about the economy, rather than what it could mean for interest rates.
Peter Cardillo
It's clear (from the rally) that sentiment has improved on hopes that this second-half recovery is starting to gain momentum.
Peter Cardillo
I would have thought it would have been a lot worse. For now, the market is doing just fine, considering everything.
Peter Cardillo
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