ho loo ma show that analyst says gross margins were aroem. 43.7% pectation of 45.5% with wt 5% revenue groh in the quarter. sayse expected ibm to deliver greater operating leverage in the quarter. he was heart end he said by the company's so-called sategic imperatives which jumped 15%. for "nightly business report" i'm josh lipton in san francisco. >> now as strong as stocks have been, c smodities evenonger this year, with geopolitical tensions causing investors to put money into raw materials. is that momentum expected to continue? point could geopolitical head winsds become a problem? joining us is our friend chief market strategist. always good to see you, author. >> nice to see you, bill. >> those are the head winds. we also have the tail winds which appear to be the earnings, fundamentals that are still meeting theh expectations for the most part. what to you make what's going on lately? >> well, it's interesting. so commodity side bring up interesting point. think about the first quarter seeing the dollar weaken by about 10%, obviously ay beneficis going to be commodities, agree