It was a very strong report. It shows the rate hikes engineered by the Fed so far have had little or no impact so far in slowing the economy.

Simply because the Fed is maintaining an accommodative monetary policy position doesn't mean they keep the fed funds rate at one percent indefinitely,

If the Fed is not going to do the heavy lifting, the bond market is going to do it for them.

Perhaps it's a function of the fears that (Fed Chief Alan) Greenspan has already gone too far (with interest-rate hikes) and the worst news is yet to come.

Now you can go back and tell your client, 'They have a lab report, and it shows you had the blood of the victim on your hands.' Now do you understand how that moves cases?

The Nasdaq has at least the Microsoft report to look forward to, which should be strong.