MORNING UPDATE

So far a solid start to the market. Yesterdays late rally sure felt like a bottom is in. I would expect perhaps a retest of yesterdays low either this week or next before we make a run up.
The 1440 number seems to be a low for the S&P 500 atleast for now.

Economic news has been fairly solid. The European Central Bank and the Bank of England kept their rates unchanged as expected. Factory orders were up though less than expected. The big employment number is out tomorrow.

Stocks I am watching include LVS SBUX COGT NYX FFIV BBND CMG GS CROX AAPL

I think Las Vegas Sands LVS is going to have a great summer with record revenues from foreign tourists taking advantage of a weak US Dollar.

If McDonalds MCD is a great global growth play, then I wonder why people are not talking about Starbucks the same way. Just imagine all the potential in China and India. I imagine once SBUX is at $50+ a share, the analysts will be jumping all over it calling it the greatest global growth play ever.

Oil prices are at record highs but I am not feeling the pain at the pump. Must be something to do with the crack spread. Gas prices were a lot higher 2 months back thats for sure.