Wall Street spared blizzard only to be buried in bad earnings and bad economic news

December durable goods down 3.4%; expected to come in at +.7

Consumer confidence up to 102.9; contrarian indicator

Last time consumers were this confident was in the middle of 2007

Number will collapse when reality has a violent confrontation with perception

P&G earnings down 31%

Caterpillar warned

Microsoft stock down 10% today

UPS announced they overestimated holiday sales

Businesses geared up for a recovery in late 2013 that was not going to happen

Layoffs coming in 2015

This may give the Fed an excuse to delay rate increase

How can a strong dollar be good for America but a weak euro be good for Europe?