Thursday brought a day of rest for stocks after a healthy bull run. There were a few little clues during the day to tell where the market is headed next. But there is no clarity in the message. See what I mean below.
Jobless claims close to 400K again. Not worse. Not better either.
JP Morgan beats. But quality of earnings was poor. Shares get pounded along with other financials. In general, a healthy economy begets a healthy financial sector.
Google has impressive beat afterhours. But they are such a unique creature that it doesn’t tell you much about other companies or the economy as a whole.
So coming into Friday the next move for stocks is unclear. Perhaps we will learn something from the Consumer Sentiment and Retail Sales reports. In the recent past they have been telling very different stories.
Whereas sentiment has been terrible, amazingly real economic activity (like retail sales) has been solid. So which is right? We’ll get more clues tomorrow. |
发表于 2011-10-13 20:24
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