In the last month the market moved up despite rising interest rates and despite higher oil prices, focusing instead on the upcoming earnings season.
More Quotes from Marc Pado:
We are facing a large number of Katrina-related warnings, ... The market is just coming to realize that it is going to be a tough September.Marc Pado
The headline number probably isn't as important as the wages and average hours worked. Earnings are still the main driving force, and the jobs number is just a hurdle in our path.
Marc Pado
Net-net, there's probably plenty of oil in the market. OPEC left production quotas, so that's a plus for the market this morning.
Marc Pado
It looks like some seasonal New Year's buying will give the market a bullish start, but this January faces many negative technical obstacles.
Marc Pado
Consolidation is a healthy development, especially in light of the pop in crude and the worsening inversion of the yield curve.
Marc Pado
Most everyone has rather positive expectations for double-digit (corporate earnings) growth for the first quarter. That is already 'baked in the cake'.
Marc Pado
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