This has been a good week. We are seeing the market respond to strong earnings from industrials, tech and materials, after expressing little enthusiasm for financial earnings.
S&P 500 up 1.3%
Tech up 3.0%
Materials up 2.8%
Energy up 2.4%
Financials down 0.2%
Of course, the dollar weakness has been a big help to commodity and commodity stocks.
Result: Dow Industrials at new highs, and about one percent shy of new highs on the S&P 500 and Nasdaq.