Those are kind of defensive stocks, with fairly inelastic demand. In good times and bad, you're going to use those types of products.
Right now, it's like an absence of bad news is being treated as good news. I see it as just a lot of noise right now. There's still a lot out there to deal with.
Right now, it's like an absence of bad news is being treated as good news.
In reality, it won't matter as much because other elements like spending and consumer sentiment look good and that will keep the upward pressure on interest rates.
A good number will confirm the upward bias for interest rates and higher rates are a headwind for equity prices.
The only good spot today was factory orders.