Oil prices are still high, ... we've got inflation reports in the next two days and there have been whispers that the Fed could get more aggressive tomorrow, or at least set the stage for more aggressive hikes in the near future.
More Quotes from Art Hogan:
This was a nice way to start off the new year. A lot of this was driven by the fact that the Fed confirmed that end is in sight. We've held onto the belief that when the Fed ends that stock prices will go up. We'll still have rate hikes but the market is celebrating that we'll see an ending sooner than later.Art Hogan
It's another piece of the ongoing trend of a slowing economy, ... The credit tightening cycle is nearing an end and we have the equity markets celebrating that.
Art Hogan
It's a 'buy on the rumor, sell on the news' type of market, especially in the telecom and tech sectors,
Art Hogan
People are starting to wake up to the credit exposure J.P. Morgan and Citigroup have to WorldCom,
Art Hogan
He's been very clear. The Fed may take a pause for a month or two, but that doesn't mean it's the end of the rate hikes.
Art Hogan
A lot of that rally had to do with the ISM (Institute for Supply Management) number, particularly the employment component, with people hoping that in turn, Friday's monthly report will show a higher number of payrolls than what people are expecting.
Art Hogan
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