They are saying the economy is going to slow and that there's no inflation but that we still need to raise rates. Investment professionals worry that the Fed will go too far and grind the economy into a recession.
More Quotes from Timothy Ghriskey:
We're seeing the same thing that we saw in October during the last earnings period, where investors used mostly good news as a reason to take profits.Timothy Ghriskey
The little bear-market rally we saw earlier and yesterday just ran out of buyers.
Timothy Ghriskey
The sharp rise in futures this morning reflected strong earnings, and we do think earnings are strong and the economy is strong, ... It is a possible that if earnings keep coming in strong that there will be a reconnect with the markets and corporate performance.
Timothy Ghriskey
I think today is a day of portfolio window dressing, with asset managers making sure they don't have cash sitting around for the end of the year, which tends to be favorable for stocks.
Timothy Ghriskey
I think it's important for investors to be cautious there -- probably take some of that money off and search for new values in the market, ... Spread out your investments, because if you stay in what has been hot, invariably there will be a correction.
Timothy Ghriskey
So the message here, spread your investments around, ... If you've gotten hurt this year in technology, learn from that and diversify your investments.
Timothy Ghriskey
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