The rally the past few days shows investors are willing to look past this period of uncertainty toward a pickup in growth in early 2006. It's a pretty optimistic viewpoint and that could change when the data comes in.
I think the results from AMD and Apple after the close should help boost sentiment toward technology stocks, which have been on a bit of a roll for a few weeks,
The optimist would say we're in the early stage of a broad rally, the pessimist would say this is a dead-cat bounce and markets are going to head lower as oil heads toward $50 a barrel.
The tone in the market is a little better. We saw strong gains in Japan as they move toward an end to quantitative easing.