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.
More Quotes from Edgar Peters:
Even if the Fed skips raising rates at the next meeting, it has to be seen as a symbolic act and not as a change in monetary policy. Stocks would only get a temporary boost.Edgar Peters
Bonds at these yield levels offer very little value. Inflation is low but it's not that low to justify bond buying, especially given the U.S. economy is not slowing at a fast pace. Stocks offer a much better value.
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 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
The only thing that seemed to really move today was oil.
Edgar Peters
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