I was expecting a pull-back, just to test the bounce, but I guess there were quite a few wanting that, so, the market goes higher.

As it happens, I am unconcerned as I have existing market neutral positions that will show me profit whether the market trades higher or lower. The risk is if we stay in a range and go nowhere.

Earnings season has started and they will be unaffected [the financials] by the surge in interest rates, but next quarter’s earnings might not be immune from the change, assuming they stay at this level or go higher.

As for the rest of the earnings reports, the China slowdown will be addressed in forward guidance, CAT and GE may give insight. SBUX for the US economy, are you going to be buying expensive coffee if you are unemployed, or worrying about becoming unemployed. JPM & C for the peek inside global finance will be important, although bank balance sheets are so opaque that what do you really learn?