The market was up 5 percent and then the Fed gave us this gift. |
The markets are hanging on nicely, considering the massive gains yesterday, ... Clearly, if the market can hold onto its gains from yesterday, and through the weak durable goods report today, the path of least resistance is upside. |
The overall passion for Internet stocks is carrying over to the index itself, |
The overriding belief is that there is more good news out there than bad news, |
The price of oil is acting as a natural drag on the U.S. economy and the global economy. It creates a great deal of investor uncertainty, ... as earnings reports start coming in, it's going to be what companies tell us about the next three quarters that determines if investors get off the sidelines. |
The price of oil will be the main driver this week, particularly since there is so little economic news. |
The problem is that terrific news on inflation is not what we need right now, ... We need terrific news on the demand side of the economy. The economy hasn't stabilized yet so we don't have any great need to buy stocks. |
The retail stores are doing well. Consumers remain confident, continue to be out there spending their money, ... A lot of money was created with lower interest rates and refinancing -- things of that nature. So, consumer confidence has stayed very high and retail stores, that have actually done it right, have been doing pretty well. |
The revisions are in the right direction, but there's still some softness in the manufacturing sector which keeps the Fed on watch in terms of interest rates, ... It's sort of an 'in line' number, but not really closing the door to keeping the Fed aggressive with monetary policy. |
The rhetoric from the meeting will be the most important catalyst, |
The rumors of the Dow's death has been much exaggerated, |
The season started upbeat and that was terrific. That helps the overall consensus that the second quarter (reports) will be rosier. |
The second quarter is lining up to be another good quarter but people are looking ahead to the third and fourth quarters. Barring any major upsets on the earnings calendar I'd say the market is pretty range bound. |
The way the markets have been trading this year, |
The whole issue goes a long way in showing how dangerous an investment the sector is, ... You can have one regulatory setback, one clinical trial or negative development for a drug, and you see this kind of impact. |