There is no economic justification to raise rates. There is no sign that prices can go up much in this competitive environment? Raise rates or not raise rates, I feel that the market will continue its appointed rounds on the up side.
This bull has shown us for more than seven years that when it pulls back it bends a little but doesn't break. You get a small price discount and buyers come right back in. And that's the sign of a bull market that has plenty of life left in it.
The report was a sign that the Federal Reserve may not need to increase interest rates as high.