With energy prices at such high levels, any decline is very positive. The ease in oil is certainly helping the markets today.
More Quotes from 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
Certainly seeing more merger and acquisition activity going on encourages people too because it's a signal to them that things are undervalued.
Edgar Peters
They're still concerned about inflation. So I think we're in for at least one more rate hike, probably two. But things were put in a much more neutral tone.
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
Trading volume is dwindling and we are probably not going to see large bets today and tomorrow, and especially after inconclusive economic data.
Edgar Peters
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