Inflation Concerns vs Earnings

Good morning. The battle between inflation concerns and earnings will continue following yesterday's mini-Fed day. Interest rate cuts appear to be off the table for now, though investors will be looking for confirmation in tomorrow's PPI and next week's CPI reports. This morning's focus is on relatively strong same-store retail sales helped by an early Easter, surging import prices, and a rise in initial jobless claims. Oil prices are also firming up again.

Along with a few earnings reports, buyers are concentrated in shares of AMAG, MEDI, JSDA, PIR, PSUN, ZUMZ, PALM, USBE, IPS, ASTI, CYTR, WTSLA, MNST, GNLB, LRCX, COST, LEND, and BRCD. Sellers are taking down shares of RIMM, DNDN, BEBE, CEGE, NUVO, BBBY, TUES, CECE, BRLC, and RACK.

Like yesterday, the market is closely watching how investors react to good earnings reports. Failure to show positive reactions to good news is not a comforting sign for the bulls, especially headed into the next few weeks with an unfriendly Fed. Have a terrific Thursday!