Trust Level: Low
Too much positive news is causing worries about the potential for a QE3 announcement tomorrow. Both PMI and consumer sentiment came in better than expected, and the fear is that this will force the Fed to wait for more data before acting. It is possible that the Fed may have clues about Friday's jobs data, which could change things fast, but right now it looks like the economy and housing might be strong enough to keep the Fed on hold.
Overall, the action is very lethargic. Apple (AAPL) is leading on the optimism created by the strong Cirrus Logic (CRUS) report, but other than Google (GOOG) and Chipotle (CMG), the big-caps are struggling. Both Priceline (PCLN) and Amazon (AMZN), for example, are not following through....86 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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