NEW YORK (TheStreet) -- The S&P 500 ETF
(SPY) and Dow Jones Industrial Average ETF
(DIA) are higher by more than 1%, while the Nasdaq ETF
(QQQ) is up roughly 0.8% in Monday's trading.
TheStreet's Debra Borchardt talked to Jon Corpina of Meridian Equity Partners about the market, and he said that after a rocky January filled with volatility things finally seems to be settling down.
He added that after a sharp rally over the past two weeks, the market has failed to significantly pull back, meaning upside momentum is still present. The recently mixed economic data can also be considered a positive catalyst for investors, Corpina said, because of the possible effect on the Federal Reserve's tapering plan.
Also, decent M&A activity and strong earnings reports from select technology companies have kept investor sentiment high.
He concluded that investors who have been waiting on the sidelines are finally starting to feel comfortable putting money to work in the stock market.-- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts