We've seen some really good stuff and some really rough stuff, ... The market has worked its way through a bottom, at least on the Nasdaq and SP. Money is rotating, so that means it's staying in the market and that's good news.
More Quotes from Art Hogan:
We're going through a very news intensive period this week and the focus of all of that is slowdown of revenue growth going forward, but we're probably overreacting, ... We get great numbers, but looking forward we don't have the robust growth -- so people are calling into question valuations.Art Hogan
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.
Art Hogan
It sends a signal that the U.S. economy has weathered some pretty harsh storms over the past few years and in recent months.
Art Hogan
The door being open for further rate cuts is bad news. We don't need further rate cuts, we need stability in the economy, ... We do care that we oversold yesterday and there's relatively positive news on the semiconductor front.
Art Hogan
It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.
Art Hogan
(Techs) had such a terrific run for the past two weeks that I believe some people are taking this opportunity to take some money off the table and invest it in the 'old economy,'
Art Hogan
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