Resiliency was the word of the day, as disappointing earnings from Citigroup and concerns about Apple were offset by upbeat manufacturing data.
As we have seen so often lately, even a sliver of a silver lining gets the bulls going, and yesterday was no exception. The Dow lead the way higher and dragged the S&P; 500 and Nasdaq slightly above their respective unchanged lines.
Nevertheless, momentum was not sufficient enough to pierce the S&P;’s 1,300 level, but after hours impressive earnings from Apple and IBM may provide the markets with the impetus needed to break through that milestone.
Despite a busy economic calendar, corporate earnings will share the center stage, and we have to wait and see if the bulls can continue their current dominance.