The Market On Friday

Good morning. It is 53 degrees and sunny here in Upstate NY. It is perfect walking weather, dog and I hit the streets earlier logging in our 2.5 mile walk. She is sleeping as I type so some of her limitless energy was subdued. The newly revamped chiropractic attended body is slightly less bent at the hips, we are standing straighter. That stuff really works.

At 8:00 a.m. futures are moderately higher, the dollar is mostly down against major world currencies, and the price of oil is up per barrel. The market is set to open higher at the start of trading.

The investment articles appear to be describing a happy day on Wall Street just before the weekend. First quarter reports have exceeded expectations, and today seems to be about sitting back and counting the cash as more corporations no doubt will continue their high profit Q1 reporting. While the country marinates in the the acidic residue of the worst recession, Wall Street is doing phenomenal business.

Gee, how come the job creators are taking a hiatus from job creation. The job creators are so sensitive, even the suggestion of raising their taxes to fair pay levels sends them scurrying into their pewter lined nests.

CNN: Stocks point higher ahead of earnings

Friday is a light day on the economic calendar, with no major reports due, but investors will get first-quarter results from several large firms.


Quarterly earnings this round have been surprisingly strong. Of the 105 companies in the S&P 500 that had reported quarterly results as of Thursday, more than 80% beat expectations...