It's good to see Intel lifting their revenue outlook. You need technology to fall into place, and in technology, the semiconductors are the engine.

This shows we're in a full-blown recovery and I think you're going to see even stronger gross domestic product growth in the second half, all of which bodes well for stocks in general.

The implication is that the economy is strengthening, but that inflation is not substantial, and the Fed will be able to handle it if it should become so.

The hurricane impact could be anywhere between 50,000 and 100,000 jobs.

To me it really shows that labor costs are under control.

A lot of the gains in March were related to seasonal issues and California grocers going back to work. The April number won't be as strong, and the Fed's going to need to see a few months of strong jobs growth before it raises rates.