It's good to see Intel lifting their revenue outlook. You need technology to fall into place, and in technology, the semiconductors are the engine.
The fact that the Fed did act today in a very 'measured' way, as it said it would, is a comfort to the market and seems to again set up the idea of a Goldilocks environment.
The hurricane impact could be anywhere between 50,000 and 100,000 jobs.
We've got a lot of things going on right now in the market, but the main focus is on the non-farm payrolls report Friday.
The implication is that the economy is strengthening, but that inflation is not substantial, and the Fed will be able to handle it if it should become so.
This shows we're in a full-blown recovery and I think you're going to see even stronger gross domestic product growth in the second half, all of which bodes well for stocks in general.
To me it really shows that labor costs are under control.
A lot of the gains in March were related to seasonal issues and California grocers going back to work. The April number won't be as strong, and the Fed's going to need to see a few months of strong jobs growth before it raises rates.
I really don't think the amount of damages is being factored in. We really don't have a handle on where things are right now.
