As it usually is for the day before a holiday weekend, trading was light as stocks overall posted modest gains across the board.
Small Cap and Micro Cap indexes posted higher percentage gains with the Russell Micro Cap up 0.84% and the Russell 2000 (Small Cap) up 0.72% for the day.
“The U.S. economy continues to show strength, and deflation in Europe is getting worse, and spreading through the euro zone, as we saw in CPI numbers today, which brings us back to the fact that sooner or later (European Central Bank President Mario) Draghi is going to have to use some sort of quantitative easing. That’s a positive, also for U.S. stocks,” said Cardillo.
“The drug effect of liquidity in the marketplace continues to be the positive factor,” Cardillo added.