The market is up in pre-market trading, still riding the good economic data that released yesterday. With jobless claims falling to a multi-year low, the market is looking for Dow 13k. Greek optimism is also helping fuel the rally, but analysts expect the rally to slow a bit as we head into a three day weekend. Dow futures are currently up 36 points to 12,906. Nasdaq 100 futures are essentially flat, up fractionally to 2,594. The S&P 500 futures are rounding out the pre-market gains, up 2.25 points to 1,357.
The markets are taking a .2% rise in core CPI in stride this morning. Most of the economic data over the past couple of weeks firmly points to a recovery. Whether or not the good news can be sustained still remains a question. Regardless, the bulls seem to have control as the Dow searches for Dow 13k.
Asian stocks continued their rally overnight on good economic data and earnings. The Yen continued to weaken which is helping Japanese exporters recover. [Read more...]