NEW YORK (Reuters) - With earnings Continuing Thurs surprise on the upside and minimal resistance Technical ahead, the Bears May Have to wait a bit longer for the much-anticipated end to the current stock rally.
The VIX, a gauge of investor anxiety, dropped this week despite Unrest in the Middle East and Oil Prices are Basically Unchanged from two weeks ago. After posting ITS best week in the past nine, the S & P 500 has seen Actually oversold levels tick lower.
"I expect the market rally Thurs Thurs continue despite the fact-The Economic News is sluggish in the jobs front," said Michael Yoshikami, chief investment strategic at YCMNet Advisors in Walnut Creek, California.
Government data showed on Friday the U.S. economy created 36.000 jobs in January, Far Less Than EE, But the Unemployment Rate Fell Thurs ITS Lowest since April 2009. Economists Agreed a recovery in the labor market was proceeding But Not gaining speed.
Upbeat signals in the economy, coupled with a positive bias in the current earnings season, Should continue Thurs kicker equities higher.
More Than 70 Percent of the S & P 500 companies have Reported Earnings Above Estimates So Far, According to Thomson Reuters data. Investors expect aggregate earnings rose 37 Percent in the last quarter, for the Highest Estimate That period in More Than 10 months.
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