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BULLS MAKE HAY WHILE THE SUN SHINES

|Includes:DBA, DBB, DJP, EEM, EFA, EPI, EWA, EWC, EWJ, EWZ, FXE, FXI, GLD, IWM, IYR, IYT, NLR, QQQ, RSX, SLV, SPDR S&P 500 Trust ETF (SPY), TLT, USL, XLB, XLE, XLF, XLI, XLU, XME


 

There isn't any hard news regarding a "fix" for the euro zone from Sunday or even a likely plan done by Wednesday. It's off-putting to say solutions are complex but that's most of what we're hearing.

In the meantime bulls are jumping on some good data from China where the PMI rose from 49.9 to 51.1 and Japan where exports surged. Also in the U.S. there was more M&A activity than is reasonable to summarize here. The earnings lead was Caterpillar (NYSE:CAT) where, despite earnings views being lowered three times over the past quarter, earnings beat estimates of $1.63 posting $1.93. Higher revenues for the company came from an increase in mining equipment sales.

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