Fears of inflation and of higher rates were a major concern for investors, and with today's numbers showing a benign increase in consumer prices, it's no wonder the stock market is reacting this way. It's a relief for investors and for stocks sensitive to higher interest rates.
More Quotes from Edgar Peters:
The ISM Services data saved us from the Intel news this morning. With Intel there has been a lot of negative news that was already built in, so some of it may have been priced in. Investors now see the services sector is still growing, which is relieving the pressure the market has been under.Edgar Peters
The only thing that seemed to really move today was oil.
Edgar Peters
It was encouraging that the Dow managed to stay above 11,000 yesterday, showing some firmness at that level. We may see some weakness linger, but we should overcome it.
Edgar Peters
With energy prices at such high levels, any decline is very positive. The ease in oil is certainly helping the markets today.
Edgar Peters
Even though revenue is not growing as fast as profits, companies have been able to leverage what they have. Companies have been able to control costs and increase productivity.
Edgar Peters
The oil data is giving some support to the stock market, especially given the mixed company earnings that have been released in the past couple of days. Declines in oil prices are always positive for equities.
Edgar Peters
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