I think earnings will be good this quarter. The pre-announcement season was very innocuous.
People are looking for commentary from Greenspan and other members of the Federal Reserve, ... Earnings have been great over the last year and half, but the market hasn't gone anywhere, and it's because the Fed's sitting on the market.
Our forecast was for earnings to come in around 13 percent year-over-year growth, and they're on track to do it. They are surprisingly better than expected, and outlooks have been good, generally speaking.
It seems the confluence of events, with Delphi, and the week you had last week, you start out here pretty tepid. I am not putting much stock in what the earnings are, but I think investors are waiting to hear what the companies would say about the outlook.
We got a lot of earnings and so far so good. The trend is going to be up, frankly, because the economy is chugging along, even with $74 dollar oil, amazingly.
The market is just awaiting for the earnings season to begin. October, for whatever the reason, always has a rough start. For some reason, the market has a problem with the month.