Salient to Investors:

Paul Zemsky at ING Investment Mgmt sees much momentum for stocks even after such a good start to the year: earnings are strong, world economies are bottoming and valuations are attractive.

EPFR Global report $39 billion moved into equity mutual funds in 2013, more than double the comparable period in 2012. The previous better start was in 1997, when the S&P 500 rose 6.1 percent in January and 31 percent for the year.

The average of 15 strategists surveyed by Bloomberg expects the S&P 500 to end 2013 at 1,543; Citigroup expects 1,615 and Bank of America expects 1,600.

The median economist expects the Dollar Index to climb to 80.7 from 79.2, and the 10-yr Treasury at 2.2 percent by year-end. Traders, investors and analysts expect precious metals to be up as much as 25 percent in 2013, grains up 18 percent and industrial metals up 16 percent.

74 percent of 239 S&P 500 companies so far reporting have beat quarterly estimates. Earnings at financial institutions have risen 62 percent.

John Manley at Wells Fargo Advantage Funds said we didn’t go over the cliff, China is better, Europe seems to be finding its bottom, and corporations doing more with less.

Filip Petersson at SEB said oil has been surprisingly strong, influenced by the high level of risk appetite, which is having a negative effect on gold.

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