The birth is surely a bright piece of news, but it is unlikely to boost the economy, which as we all know is in a very weak state.

The market was looking for at least a crumb of bright news on earnings out of the U.S. and we got three.

Investors are covering their shorts after Nasdaq gains and deep falls in previous sessions, but the top is heavy and the run looks short.

The news should improve in the second half as likely Fed rate cuts begin to affect the economy and earnings momentum improves on easy comparison,

The good news is more rate cuts are on the way. The bad news is the economy is weaker and that will put pressure on earnings.

It means that the housing market is seriously slowing. It's not great news for the economy.