Not to be heartless, but this is very good for Wall Street, ... And I think that is why we are seeing this market take off in the early going. |
Nothing happened in the markets today, ... We opened at 9:30 am and we closed at 4 p.m. |
Obviously we're in an environment with the friendlier interest rates, ... The first sector that does well (after cuts) -- except for the credit card issuers -- is the retail stores. |
Obviously, we are still concerned about how much the economy is slowing going forward. There are a lot of people who aren't making bets on this marketplace. |
Of course, when you have a marquee name like Microsoft disappoint, it's hard to sit up on good news. |
Oil prices are still high, ... we've got inflation reports in the next two days and there have been whispers that the Fed could get more aggressive tomorrow, or at least set the stage for more aggressive hikes in the near future. |
On a relative basis, it's not as disastrous [as it seems], ... [The Michigan survey] was less than expected and the market was looking for a reason to take a breather. But it's not a mass exodus. |
Once a year, they (the Russell) decide to add and delete stocks. So what's happening is at the close today, those who run a Russell Fund will need to buy all of the Russell additions and sell all of the Russell deletes, |
Once again, it's not what you do, it's what you say, |
One of the main drivers for the Dow and S&P has been the price of oil; that's been dragging on the companies that are especially dependent on lower oil prices, |
Other than a couple of marquee names like IBM ( Research ) and Apple ( Research ), earnings haven't been bad, ... I think we'll start to focus on the carnage we did last week, and at some point today we'll put in a bottom. |
Outlook statements for the first quarter are the best that we've seen in some time, but the question is, how much of that is already baked into the market?, |
People are bid up the market by the close to get ahead of the Fed on the hope of a 'Fed bounce' tomorrow (Tuesday), ... We're still well within the time frame of the Fed's monetary policy stimulating the economy, but people are just tired of waiting for it. |
People are starting to wake up to the [credit] exposure J.P. Morgan and Citigroup have to WorldCom, |
People are starting to wake up to the [credit] exposure J.P. Morgan and Citigroup have to WorldCom. |