The Dow is at 10,927, very much poised to top 11,000. Oil is at its highest level per barrel in 18 months. Investor sentiment, at least the sentiment expressed in the basic Reuters and CNN financial articles is quite bubbly. Some are even saying that the economy is improving better than expectations and the expectations are continually lower and lighter than what is going on.
Today, the report on non farm payrolls comes out and the expectation is that the economy added 190,000 jobs in March. Now that would be good news.
Reuters: Dow and S&P 500 rise on upbeat data; RIM curbs Nasdaq
An index of U.S. manufacturing activity in March rose to its highest level in over 5-1/2 years, the Institute for Supply Management said. Earlier, a U.S. Labor Department report showed initial weekly claims for jobless benefits fell more than expected.
"This economy in our view is bouncing back much stronger than most people expect..."
Looking ahead to Friday's non-farm payrolls report, economists polled by Reuters forecast the economy added 190,000 jobs in March.
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