There was general agreement that the markets would be able to withstand another dismal jobs report and end the week strong. One stock in particular looked especially robust, benefiting from both general economic improvement and some unique business trends.
Market recovery falling into place in familiar sequence
Lakshman Achuthan of the Economic Cycle Research Institute said we are probably at the worst of the recession right now. His "long leading index" bottomed last fall, and the weekly leading index bottomed in December, and stocks appear to have bottomed in March, a one-two-three sequence that has held true for many downturns over the years. He said he thinks we are entering a "sustainable cyclical recovery."
Markets likely to hold up under another bad jobs report
Ben Lichtenstein of Traders Audio said the market has shown strong resilience in the face of a steady stream of bad news. We have seen several indexes test and hold this week; it's important for the S&P 500 to stay above 800, and it would be good to see the Dow top 8000 and hold. He sees financials leading the way back.
Consumer, Carrier, Chief Executive Working for Research In Motion
It's a big day for Research In Motion, which posted a fourth quarter earnings gain of more than 25 percent. Peter Misek of Canaccord Adams explained the company has benefited from a rebound in consumer spending, carriers pushing its product, and the biggest celebrity on the planet, President Obama, being "a massive BlackBerry user." You can have 10 to 20 BlackBerry customers on the network for every iPhone user, Misek said.