The Closing Look

Stocks were quiet on Tuesday as investors digested the latest round of earnings and economic data as the Fed began its two day meeting. On average economic data was somewhat positive with some strong data coming from the housing market. Separately, earnings data continues to be mixed as earnings roulette continues (some stocks gap up and some gap down after reporting earnings).

Gary’s Thoughts: Market much better than the indices. All’s fine. Steels now showing up. Big news is the ADI for LLTC. Another overpriced buyout of a no growth company because easy money makes it easy.