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.
More Quotes from Joseph Battipaglia:
I think the good news is that the current quarter is OK, and the challenge is going to be what comes next,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
This earnings season, instead of getting a ripple effect on positive news, you're seeing that particular company's stock react, but very little spillover, like with IBM today. The negative news has tended to spill over to the rest of that sector, and in some cases, the broader market.
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
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.
Joseph Battipaglia
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