Stocks are moving higher again this morning as the Dow looks to stretch its winning streak into the eight session. Some key data points could serve as a catalyst to keep the Dow and the rest of the market in its winning ways. February consumer price data is set for 8:30am est, while industrial production numbers and consumer sentiment are slated for later this morning. Dow futures are currently up 26 points to 13,198. Nasdaq 100 futures are up 6.25 to 2,718. S&P 500 futures are up 2.50 points to 1,398.

Thanks to a surge in gas prices, consumer prices rose .4%. Core CPI (they strip out gas prices cause they assume we drive Amish buggies around) came in at a modest .1%. Both cam e in under economist expectations so should help fuel the rally higher.

With the recent moves in the market, analysts are starting to warn that some near-term consolidation is almost guaranteed. Plus they worry what happens when the central banks have to pull back. If the timing is off, it could impact the market negatively.

Plus the bullish runs have been on the backdrop that Europe is not actually fixed. They slapped another band-aid on it and continued on their way. Eventually that situation will have to be dealt with. Same with deficit and debt issues domestically and in Asia. But at least the market is running now. Living in the present has its benefits. [Read more...]