Good news out of 'mega-cap' companies like Exxon and Wal-Mart is clearly a positive for the market.
More Quotes from Steve Neimeth:
IBM's numbers looked very good. Intel's the ugly one because the worry is many investors are expecting higher corporate spending to offset potential weakness in consumer spending.Steve Neimeth
You can call this the good, the bad and the ugly.
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It looks like a lot of investors made quarter-end adjustments yesterday as they put cash to use at the quarter's end. Today it seems like the economic news wasn't particularly surprising and the energy markets were relatively flat.
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I think the market will continue to rally as the economic data continues to improve.
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People are probably taking a wait-and-see approach before the Fed, and the market's taking a breather after last week.
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