This morning, the market tends to be looking past that a little bit.
More Quotes from Larry Peruzzi:
The increase in oil prices as trading started this morning took away all the incentive to buy stocks. With oil going up again and a Fed meeting tomorrow, investors are being very cautious. Demand today has dried up.Larry Peruzzi
In a normal week, these numbers would be positive enough to trigger a rally in stocks. But with the two hurricanes, oil data has become very volatile and the same has applied to the stock market reaction to the data.
Larry Peruzzi
This morning, we were able to sustain momentum somewhat off of some good earnings reports. But the pattern still hasn't broken entirely that people are looking to sell into the rallies. The concerns continue to be inflationary.
Larry Peruzzi
We need to see a decent number of earnings coming through with good numbers before we see the market able to hold a rally.
Larry Peruzzi
It's a number kind of closely watched by the Fed. It's a big factor in the rate decision-making, so the fact that it came in line is a positive trend.
Larry Peruzzi
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