The strong report lifted the company's shares 39 cents, or 1.3 percent, to $31.

But many traders are preparing for an even stronger report.

For the most part, a rise in oil prices and a very strong report on personal incomes were shrugged off.

There is a growing view among market participants that the reaction to recent strong economic reports may have been overblown.

"We knew the movie was coming, and we'd heard strong reports about it," she said.

One wishes it did; it's a weakness in an otherwise strong report.

But even those companies with strong reports were not exuberant about the industry's performance today.

While the decision by the Fed was expected, recent strong economic reports had raised doubts among some market participants.

Analysts cautioned against reading too much into one strong report.

Nothing sets him to dancing like a good strong quarterly report in employment.