The Dow showed some resolve. I think it had to do with a key report on employment that indicates the jobs picture may be firming up.
More Quotes from Charles Payne:
I think it's a matter of the market running out of steam, and maybe everyone realizing we've come too far too fast. The stocks have moved ahead of the fundamentals.Charles Payne
The majority of stocks down today had made mind-boggling moves. They gave a little bit back. We can nail it to profit taking.
Charles Payne
This tells us that inflation is in check. Even though consumers are spending, it's not reflected in the price of goods.
Charles Payne
I hope some of them reporting results will say at least things are getting better.
Charles Payne
I don't think anyone expects any fireworks from the Fed tomorrow but it's normal to have a pause before a Fed meeting.
Charles Payne
The consumer confidence and housing data were hopeful but not enough to reinvigorate a market that needs a break, ... We need numbers to beat estimates. Also, today's data put lots of pressure on tomorrow's (Wednesday's) personal income and (University of Michigan) consumer sentiment numbers to show improvement.
Charles Payne
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