They like the CPI news this morning and the action in oil markets, with oil down 2 percent. Investors are less worried about inflation, and with energy prices coming in a little bit, that will give more money for the consumer to spend.
More Quotes from Tom Schrader:
Friday's payrolls number is certainly the week's biggest news, and you may see some hesitation ahead of that.Tom Schrader
We have negative news coming out of the home builders this morning, and obviously that's been an area that has led the economy.
Tom Schrader
We're suffering from a dearth of information -- there's no economic news until Thursday.
Tom Schrader
The payrolls number is probably going to be in line, and we'll see another session of listless trading. But if it is something dramatic, we could see a violent reaction, one way or the other.
Tom Schrader
Everyone's always concerned about inflationary pressures, and the CPI will certainly give us a hint about that on the consumer side,
Tom Schrader
I wouldn't discount the likelihood that next week will be flat to lower. It's a holiday week, volume will be light, and after four up weeks we'll need a pause.
Tom Schrader
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