The utilities are really breaking down today Tuesday. They were seen as a safe haven play and now you have people worrying about dividends being cut across the board.
More Quotes from Matt Ruane:
The near term out of these companies is shaky. It's the forecast for higher growth in the second half that is really bringing markets higher today. People are seeing a little light at the end of the tunnel.Matt Ruane
Bush's comments provided some short-term comfort. But shortly after, we sold back down again.
Matt Ruane
It's a surprise reversal today after the labor number this morning. The resignation of O'Neill was certainly a positive for the market. That was clearly the catalyst. The market was also getting a little oversold. And you have some good participation from tech.
Matt Ruane
It's all about the Bush plan today. Any stocks that pay dividends are doing well today, particularly telecoms and utilities. But I hope that this is not a short-term solution. A range of 300 billion to 600 billion is pretty murky. We're going to have to h
Matt Ruane
The market has done a good job, considering all it's had to take in over the last few days. There's skepticism across the board right now, but no fear, no panic. I like the action today Wednesday.
Matt Ruane
There's a lot of nervousness on the political front and that's keeping the buyers out of the market. We've got 50 significant companies reporting results this week - but at this point, bad news is almost good news, because it's so built in to people's expectations.
Matt Ruane
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