Overall, the Intel mid-quarter update was quite bullish. I would suspect unless something major happens overnight you are looking at a higher opening based on the Intel news. |
People want to put their money in companies with strong earnings, and many of these companies are expected to deliver that. |
People who have doubled or tripled their money have begun to look at the multi-nationals, ... You're seeing money go into the telecoms lately, some of the drugs are stabilizing, Coke was recently at a new 52-week high. |
So far all of the news coming into the market today is negative. |
The big problem for the market has been the news flow. Energy prices continue to rise, gold prices continue to go up and earnings are coming in very mixed. |
The big question is whether the earnings growth is already built into the market, or can it help us move higher. It's very hard to answer that. Earnings should be the big driver of the market right now, but you seem to have this cross-current of events that are challenging that. |
The brokers have had a tremendous run and have separated from the banks in terms of their performance. |
The employment situation is always a market mover because it is one of the Fed's favorite indicators when it comes to designing their policy statement. |
The G7 meeting is probably going to be pretty contentious, ... It remains to be seen if anything comes out of it that would influence the dollar on Monday. |
The G7 meeting is probably going to be pretty contentious. It remains to be seen if anything comes out of it that would influence the dollar on Monday. |
The HP news is clearly positive, particularly for technology, ... and if nothing negative happens overnight, you could have a higher open. But we have CPI tomorrow, and that's a big unknown. |
The inversion isn't a good sign. |
The last thing we need is crude moving back to the $70-a- barrel level. |
The major problem weighing here this morning is Dell, ... They missed revenue projections by a lot, and their earnings were also at the low end of the target, so that is reminding market participants that there may be a consumer slowdown taking place. |
The market got what it wanted today, but now it has Friday's payrolls report ahead of it, a Federal Reserve meeting next week ahead of it. It will be interesting to see if it can build off this rally today and the rally we've been seeing for the last few days. |