Tom Schrader Quotes on Economics (6 Quotes)

We had such big gains yesterday that it is not unusual for us to consolidate a little bit. Then, oil's down but gasoline is up and that is counterbalancing each other, ... The economic news we had this morning was less than inspiring.

Oil is always a negative factor for the markets and that, combined with lack of economic data, is contributing to a lack of interest in the stock markets this morning. On the bright side, the series of company upgrades is certainly welcome.

Economic numbers this morning were very story and could give the Fed more ammo to possibly continue their rate hikes past May. Most of the numbers we've seen over the past few weeks have been stronger than expected.

It seems that GM put a damper on things with some negative comments, and the economic numbers were a little weaker. They are both putting an overhang on the IBM news, which was generally positive. This is one of the biggest earnings days we have -- and people are going to be focusing more on the guidance than they are the actual earnings.

We're starting to get into that no man's land of lack of earnings, with most of the SP 500 having reported already. We'll have durable goods orders tomorrow and beyond that, the market is going to have to count on the economic news and the price of oil for drivers.

I think we're going to see some sideways action this week. We had a nice run last week and there's a significant amount of economic and earnings news due out later in the week. I think people are taking a 'wait and see' approach ahead of that.