The
U.S. economy continues to grow, at a slow pace; but still it grows.  We saw confirming evidence in this last
week’s economic reports.  FOMC Chair
nominee Janet Yellen gave traders what they want in her testimony: more
accommodative Fed policy to come.  Gasoline
prices are down more than 10% since the start of September.

One
negative – Empire state manufacturing index collapses to -2.2 versus
expectations of 5, lowest level in 6 months.