Nasdaq higher, S&P 500 nearly flat
The S&P 500 is down just 3 points after falling my more than 30 early in the session. Money is coming out of bonds and into stocks as the day wears on. It's an impressive turnaround after a panicky start to the day following nonfarm payrolls.
119.75 in USD/JPY is the line in the sand I'm watching in USD/JPY.
I think the conversation is quickly going to change to a discussion about how strong the US economy really is. And it's a tough one to answer. There have been undeniable signs that the dollar is hurting manufacturing and exports but the consumer is rolling along and yesterday's car sales numbers were the best since 2005.