Negative pre-announcements are outpacing positive ones by a three-to-one margin -- and that's very high. The big question is whether the market can look through that. We expect consumer confidence will increase and business confidence will start to turn up as well.
More Quotes from Michelle Clayman:
The market has been miserable of late, so it's not surprising that we're seeing a little bounce now, aided by the three economic reports. The economic news isn't great, but it's not awful, so that helps.Michelle Clayman
We started off with a bang yesterday, so it's not surprising that there would be a pullback. Plus, you had Home Depot's pre-announcement,
Michelle Clayman
We are in the summer doldrums. Once we get into September, markets will probably rally because the fundamentals are strong but August tends to be a time of light trading.
Michelle Clayman
This is going to be a positive year for the market, but the growth is going to be slow. The quick resolution to the Iraq war has been a positive and I think people took a lot of encouragement from that, which is why you've seen the run we've had, but the economic news has been mostly mixed.
Michelle Clayman
There's still a great deal of uncertainty. We've got a pretty worrying international situation. There is a decline in confidence in business leadership based on a few bad apples, and a certain complacence about the economic data.
Michelle Clayman
Things have been so gloomy, (but) now many people sense the bottom is here and we'll start to drift upward.
Michelle Clayman
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