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Sadly, I am a Man Excited by the Philly Fed

JP Gravitt

Nothing really to write home about.  But this Philly Fed print of 34.4 looks pretty strong.  It was last this strong in January of 2017 and then in May of 2017.  It seems like the first real positive post-crap weather of April.  I am aware that the Philly Fed is also not the main gauge of how markets will do.  Markets (SPY) (DIA) are still pretty flat today, digesting (CSCO) and (WMT).  But neither really were that disconcerting.  Cisco even looks interesting since the numbers don’t fall off next year like a lot of tech companies and you get to collect a 3% dividend.