Mid-Session Market Comment 04-01-2014

Major U.S. market index rose at the open and have been pulling back, but still maintaining good gains.  The stock market has been up in spite of Most Chinese, European and U.S. economic data released this morning are weaker than expected. Reasons may be that investors are expecting China will soon introduce new economic stimulus measures and the U.S. Federal Reserve Board's will likely continue to maintain low interest rates . Technically, the S & P 500 made a new intra-day record 1,884.60 this morning while the Dow rose to only 22 points to record highs. However the two indexes have now retraced about half of the morning gains. Nasdaq Composite is the strongest performer among major indexes, it is still up more than 1% and regained above its 50 day moving average 4222. It seems institutions are in buying mood during this first trading day of the second quarter. However, before the important non-farm payrolls report on Friday is released, investors will likely remain cautious. If the S & P 500 after hitting a record high go negative at the close, a top again is made and the market will fall again.