A lot of growth equities are in favor right now. |
A lot of people are surprised that the markets are behaving as well as they are. But there's a sense that even the negative numbers don't matter as much as they might have, that markets are preceding the turn of the economy. |
A lot of people are taking the week off and there's not much news, so that creates this volatility. |
Action is being driven by the news of the day, namely Microsoft, Nortel, Qwest, ... The fact that we're hanging in there with so much negative news out there is good. |
After that period, you could see a rally in July, with people really setting themselves up then for the second half of the year. |
All of the numbers this week are potentially market moving. I think people will be watching the numbers for hints about inflation. |
All the big news is out of the way, the Fed, the elections, all the big companies have reported. So we've got nothing new except this piece of bad news from Cisco. |
Bonds finally showed a little reversal. We put in a high on the long-terms and then dipped off of that. I think the big bond funds came in and started taking profits after the recent run. The real test will be if we can hold these levels. |
Citigroup was disappointing and financials are the worst performing group today, ... You pair that with weakness in technology and energy -- the two leaders for the market over the last eight weeks -- and you have sort of a ho-hum day. |
Citigroup was disappointing and financials are the worst performing group today. You pair that with weakness in technology and energy -- the two leaders for the market over the last eight weeks -- and you have sort of a ho-hum day. |
Clearly, the Fed is the biggest drive in the market right now. |
Earnings have been fine, but they just haven't been as robust as people were hoping. The guidance for the third and fourth quarters hasn't been that strong, and part of the rally was based on people betting that the second half of the year would be good, so with the numbers not saying that, you're seeing some selling. |
Even with the Dell news, the two themes we've seen today, and lately, have been strength in select technology -- today, that was the chip sector -- and strength in industrials, |
Even with the Dell news, the two themes we've seen today, and lately, have been strength in select technology -- today, that was the chip sector -- and strength in industrials. |
Everything out of [Federal Reserve Chairman Alan] Greenspan and the White House has been good, ... We're at a key inflection point. The fundamental issue is: Are we going to have another Tyco or Enron? And when? |