A healthy Japan is healthy for U.S. companies.
The GDP figure was kind of a double-edged sword. It points to the fact that the economy is slower but that also takes pressure off of (interest) rates.
And we're still seeing profit taking in some of the higher-multiple names such Apple. Money is also flowing out of the energy sector once again as it has done throughout the week.
Energy is trading off a bit, and I think that helps the other sectors in terms of it alleviates a cost for a lot of companies. Health care is doing well on the back of Bristol-Myers news, and also Boeing (is) getting another order.
Economic growth has been modest but positive, but what does it mean in terms of Fed action? Too strong of data is almost going to be viewed as a negative, especially if it's showing an overheated economy.
Productivity has been this huge issue for the market, and people remember Greenspan highlighting it in the 1990s.
The consumer price index was not a bad number at all. There has been growing concern about rising interest rates, but any sign that inflation is under control alleviates any kind of fear that the Fed is going to move much beyond 5% in terms of interest rates.
Oracle, in terms of earnings, is influencing the market.
The drop in productivity was larger than most people were expecting. It may become a factor in today's trading session.
There was a little concern over some of the comments made by one of the Fed presidents.