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.
More Quotes from Art Hogan:
I think the Fed's going to lower by 25 basis points and I think the trend is going to show stabilization and a pick-up in growth, ... The current data is not going to look terrific but there will be signs of stabilization.Art Hogan
Fifty-two percent of the households in America are invested in the U.S. stock market and they want to invest in the things that had 70 percent growth last year, ... As long as the money keeps flowing into equity mutual funds and they are targeted toward Nasdaq stocks, we are going to see this go on for a while.
Art Hogan
Yesterday was all about valuations and bargain hunting, ... It's not just about bargain hunting today.
Art Hogan
The fourth quarter is when we'll see the impact of rising interest rates, higher energy prices, ... I would say eBay is the biggest piece of the problem this morning. It's a household name and it's adding to the sentiment we're not going to have the best of fourth quarters.
Art Hogan
The market has been able to stomach a lot of bad news -- we've seen disasters every day and the market has trended higher, ... This is day four, so it's only natural to want to take profits.
Art Hogan
We still have a flood of money coming into technology at the expense of these old-economy stocks. If you look at the sectors that make up the Nasdaq they are sectors that are the hottest in our economy.
Art Hogan
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