Major averages tiptoed higher on lower volume, well below average, expressing a lack of institutional interest. That said, the market has shot quickly to new highs so some digestion of recent gains can be expected. Futures are currently trading slightly higher. QE and the global slowdown remain in effect, two forces that counteract each other.
The Fed meeting minutes are scheduled to be released today at 11:00 AM Pacific Time, which could have an effect on the market. Investors will be watching for language hinting at any impending time frame for raising rates. Some Fed heads have expressed a desire to start raising in April while others have counseled a slow, cautious approach.
Chinese online discount retailer Vipshops (VIPS) had a BGU on a strong earnings report, earnings and sales skyrocketing.
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