This is hugely positive for the market tomorrow -- two bellwether companies reporting big upside surprises in a market where people are heavily short and pessimistic.
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
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.
Steve Neimeth
I think the market will continue to rally as the economic data continues to improve.
Steve Neimeth
The worry with Intel is many investors are expecting higher corporate spending to offset potential weakness in consumer spending for GDP growth this year.
Steve Neimeth
The Consumer Price Index came in 'in line' with expectations, which calmed investors. And the Fed commented that they're not particularly concerned about inflation and that they don't seem to be any more aggressive in raising rates.
Steve Neimeth
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