MARKET RECAP

Once again the bulls ruled except for a slight hiccup around midday, stirred up by King Hals weak profit forecast.

The S&P 500 had its best 2 day gain since last August.

Solid housing starts announced today were the major factor in the market advance.

Palm was up on takeover speculation. The new Treo smartphone has been getting rave reviews and appears to be a product that can put a dent in the Blackberry.

Oracle and Adobe are two companies that are reporting solid profit growth after the bell. Shares in both companies are up in after hours.


The FED announcement is tomorrow. Rates are expected to be kept unchanged. It appears the bulls have the upper hand for now but, we all know that a 2 day 180 point rally can be wiped out by the likes of 400+ and 242 point drops that we have seen in the last 3+ weeks.