There's room to rotate. Think brokerage houses. At the opening bell, the Dow surged as high as 10,418 before downdrafting into negative territory, but it rose again in the last two hours of trading to close at 10,395, up 55.5. That's another record by the way. Both the Consumer Price Index and retail sales figures rose a tiny 0.2 percent in March, allaying fears that inflation will prompt the Federal Reserve to raise interest rates.
Tomorrow is anybody's guess, though.
Looks like Asian markets will probably perform well tonight, which will likely give Wall Street another shot of adrenaline, but more trouble in the PC and chip sectors could drag the market down tomorrow. The parade of frightening earnings reports from technology companies is worse than a circus of evil clowns. That was two cents better than consensus forecasts of 55 cents a share. Top that with declining unit sales, and you've got some frayed nerves on Wall Street. Now for the continuously troubled PC sector.