Gold is at a high and the dollar weakened again. As a result, you would think stocks would be a lot lower today, with people putting money into those areas and taking money out of stocks, but they're not that bad. We're kind of just drifting. The Dow has its own company-specific problems, but the Nasdaq is hanging in there. |
Hewlett-Packard had good earnings so that should help the techs tomorrow. The other companies reporting tomorrow aren't usually market movers. Greenspan also speaks to Congress, which people will be looking at, but I don't think he'll say anything too surprising. So the hope is that HP earnings will take center stage. |
I don't see that there's any motivation to move higher. The concerns about interest rates, oil prices and Iraq aren't going away. I think we're going to stay in a volatile range. The best we can hope for is the market to move sideways for a while. |
I don't think it's going to have much impact on stocks either way -- they basically matched the earnings, but the sales were a little light, so it's kind of neutral. |
I guess after all this selling you could see an oversold bounce next week, and some up days here and there in early February. What's concerning is that there doesn't seem to be anything to lift us on a more consistent basis. |
I hate to say it, but maybe there's a bet that if Kerry wins, (former Secretary of the Treasury) Robert Rubin will take over as Fed chairman, and the market would like that. |
I just think we can't seem to get out of that range we're in. We're in a seasonally difficult time of the year. All the good news is in the market ... it needs a new catalyst. |
I think if they take out the language about inflation, as well as leave in the 'measured' (at future meetings), that will calm the market a bit. |
I think it's interesting that on a day when crude oil closes over $50 a barrel for the first time, the market is flying. |
I think the best we could hope for now is the market kind of fits in and starts to try to build a good base here, go up a little, pull back. And then hopefully as we get closer to the end of the second quarter, the earnings prospects, if they are better, should provide us a base to perhaps do a little better later in the year. |
I think the Fed meant to say something reassuring about the economy, but the result was very confusing. |
I think the markets will overlook the weak economic reports. Everyone knows numbers in February and March were terrible due to the snow storms and oil prices. |
I think tomorrow (the Fed) will do nothing. But the talk now is that they might move toward a tightening bias. |
I think we are going no place. |
I think we'll bounce in this same range. I don't think the rest of the earnings will allow us to bust out of this range... I don't see where we would get the strength to push us beyond those highs. |