Manufacturing reports out earlier in the week gave stocks the launching pad to close yesterday at 2+ month highs. Seemingly manufacturing activity came in better than expected here in the U.S. and in the 16 countries that use the Euro indicating a faster recovery than expected. I think though it is important not to get too caught up in the weekly or for that matter the monthly data, for what this perma-bull wants to see is at least quarterly evidence that this economy and the economies abroad begin to experience consistent expansion across the board. This rings especially true with the employment data. Let’s see what the job numbers look like not only tomorrow, but for the rest of the year, for this to me my friends is the biggest factor of them all.
Best of luck.