The gap has been filled and then some, however earnings have been allover the place with a couple of beats getting beat up, like IBM and WFC, otherwise there's been a strong batch of earnings. AAPL had what appeared to be their shipments for their products released in a lawsuit last night, bottom line, I phones ahead of consensus, Ipad below consensus (I pads I believe are their highest profit margin at 60%). WFC, beat on EPS, but missed on revenue, which has been a common theme with the banks, (think JPM), although I didn't read the full release, I'd guess they lifted EPS by lowering loss reserve ratios.
So we watch now and see what this market can hold.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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