The economy continues to give us mixed signals but most are positive.  Here is a succinct list of what happened last week:

Positives
1) Oct payrolls surprise big to the upside
2) Fed lights another fire under asset prices
3) Emerging markets continue to rally as investors seek non $ assets
4) Oct auto sales rise to best since Sept ’08 ex clunkers
5) ISM services and mfr’g indices both above forecasts
6) Both Australia and India’s central bank raise rates to cool inflation pressures
7) Fed to allow healthy banks pay dividends.

Negatives
1) Commodity inflation as measured by CRB index rises to 2 year high
2) Ireland, Portugal and Greece financial concerns continue to grow
3) German Sept factory orders fall sharply
4) Sept Pending Home Sales unexpectedly fall.