It’s a good day for the stock market. The Dow currently up close to 200 points. The S&P 500 is back over 925. The market is reacting favorably to Intel’s (INTC) earnings report. The shares are currently up about 7%, and this comes on top of Goldman’s (GS) blow-out earnings report the other day.
The other big news today (besides the CPI report) was the June report on industrial product. June industrial production fell 0.4% which was better than the consensus forecast of -0.6%. That’s not great news, but I’ll take it. We’re still not in a recovery but there’s more evidence that massive declines we saw after Lehman Brothers went belly up are finally over.