I've heard that numerous trading desks, out of concerns about terrorism and congestion, are staffing their disaster recovery sites with half their personnel. A number of money managers are going to be working from home.
More Quotes from Tom Schrader:
You're going to see increased volatility through the end of the week, and it's probably going to be even worse Friday,Tom Schrader
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.
Tom Schrader
I think a lot of people are sitting on their hands, waiting for a little more meaningful earnings reports. Alcoa was better than expected and we have GE earnings at the end of the week, so maybe that will give us some direction.
Tom Schrader
The concern is that we're very overbought right now.
Tom Schrader
The consumer confidence (index) this morning was better than expected, and the lack of negative pre-announcements has given people the impression that first-quarter earnings are going to be good.
Tom Schrader
Oil is certainly creating some anxiety in the market.
Tom Schrader
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