After all of these increases, we're really at a point of watchfulness to see if the rate hikes have been sufficient to too much. There are fears in both directions. |
We had that great run up. Stocks were fully pricing good earnings reports or good outlooks. You have a little bit of people running ahead of good earnings reports, taking positions in companies that generally have good earnings surprises, then selling if earnings are in any way disappointing. |
We had the end of the earnings season and lots of news just recently behind us that maybe requires a little absorption period. I think a soft market for a couple of weeks is OK. |