Jack Ablin

In both fees and commissions, they're in good shape.

In both fees and commissions, they're in good shape.

This deal makes sense for both companies. Bank of New York has been expanding in the custodial business and doing read more

This deal makes sense for both companies. Bank of New York has been expanding in the custodial business and doing a fine job. This shift out of distribution is an ideal fit for J.P. Morgan.

Any bad news can throw us, and the jobs report was perceived as bad news, seen as a sign that read more

Any bad news can throw us, and the jobs report was perceived as bad news, seen as a sign that the recovery is fragile, but that's not necessarily true. In the last two recessions, a pickup in employment only happened a year after the recession had ended. So just because unemployment is higher doesn't mean we're not on track for a recovery.

I would infer from the statement that the Fed is somewhat more sanguine on the economic recovery. Perhaps they believe read more

I would infer from the statement that the Fed is somewhat more sanguine on the economic recovery. Perhaps they believe that $55 oil prices are, at least for the time being, something of the past and that jobs are just improving at a moderate pace.

Between leading indicators and subdued inflation expectations, it's really set a nice backdrop for the market today,

Between leading indicators and subdued inflation expectations, it's really set a nice backdrop for the market today,