There was quite a lot of uncertainty [about] what big tech names would come out with, but they met or exceeded their expectations.
The U.S. manufacturing ISM index should show a decent gain today, reinforcing the market's conviction that the U.S. recovery is for real.
We may be a in a classic summer lull but shares will break out on the upside in due course.
It increasingly seems that the U.S. is going to go it alone, which is the least desirable outcome.
The focus today will be the service sector confidence numbers and Cisco's results released after hours.
It's death by a thousand cuts at the moment.
He (Greenspan) is expected to try to dampen fears that the Fed might raise rates any time soon and also try to keep open the possibility that the Fed might yet ease policy further.
Tomorrow's payrolls numbers will dictate whether this setback lasts longer than today.
We still believe the U.S. economy is beginning to pick up speed but, near term, there is little to shift equities out of their summer torpor with the coming week relatively light on economic data.
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