Earnings have been coming in by-and-large at better-than-expected levels. But a lot of that has been priced in, and so you're seeing some selling on the news. But the profit-taking is short-term. Longer term, we should continue to see strong economic reports that support the rally, and we should start to see analysts' estimates increase for the fourth quarter.
More Quotes from Timothy Ghriskey:
is now is in play.Timothy Ghriskey
(We like) stocks with a moderately high dividend give that stock support. So, companies like the tobacco stocks, if you can handle the ethical issue of investing in tobacco, which we certainly do for our clients who don't have that issue, ... These are high dividend stocks. The dividend is very secure. That's a great strategy. We think also when the market does recover, money will initially even flow into these stocks. Because on a relative basis, say a Philip Morris with a 5.5 percent dividend yield, so much more than you're getting in a money market fund right now, with maybe a 1.5 dividend yield. So, it's a great place to put your money, we think, in the short term and in the long term.
Timothy Ghriskey
Oil continues to be a big influence on the market, and the Fed is as well. As inflation goes, so goes the Fed.
Timothy Ghriskey
Oil is likely to stay in the 40's and that is likely to result in a flat stock market for the time being, ... Unless crude can break out of that range, I think we're likely to see sideways trading.
Timothy Ghriskey
CPI is certainly the big economic report of next week. The Fed's beige book and some of the manufacturing numbers will be looked at as well.
Timothy Ghriskey
That part of their business was very strong in the previously reported quarter, and that's why the stock is rebounding,
Timothy Ghriskey
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