Day Two

Good morning. We're starting the day on the right foot following a number of positive economic and earnings reports. Oil has fallen back, overseas markets were firmly higher, a good report from Home Depot (HD) is helping out, as well as good CPI, housing starts, and building permits. In other words, we're good so far. There will be several potholes ahead, but given the rash of bad news we've had to sort through for weeks now, it does feel good to have a bit of good news to concentrate on. With higher prices it would be nice to see trading volume pick up, but given that this is a vacation week for so many, that will be a very tall order to fulfill.