I'd say we're doing very well, all things considered, ... Clearly, there is more money available out there, when even sectors that are fairly stretched, like tech and banks, are doing well today.
More Quotes from Joseph Battipaglia:
We continue to be in this trading range, at the lower end right now, ... The only catalysts that can get us out of here in the next few weeks is some relief at the pump, lower oil prices and news about how much the Fed is going to raise rates.Joseph Battipaglia
Clearly, it's all about the economy. The consumers are doing their part . Now the business side has to come along, too. That's why today's soft ISM number was so disappointing.
Joseph Battipaglia
My guess is you're going to get back into this sort of stutter-step approach to the market. Clearly the leadership here has stalled after the run-up from the October lows.
Joseph Battipaglia
But if you step back, it seems to me that we're still in the trading range we've been in for some time. There's still the push and pull between rising earnings and rising interest rates.
Joseph Battipaglia
The PeopleSoft news could make it more likely that the Oracle deal will go through. And after all the recent downgrades, people are probably relieved to see a brokerage lifting its view on the chip sector.
Joseph Battipaglia
What's going to be positive here is delivered earnings, a fairly bright outlook for the second half by corporations, and a growing comfort among investors that perhaps the tightening initiative by the Fed is coming to a close,
Joseph Battipaglia
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