The economic backdrop in the U. S. is still attractive, prompting bargain hunters to go to work as we approach year-end.
More Quotes from Alan Ackerman:
It reaffirms the fact that it wasn't just the outcome of the election that weighed heavily on the market -- it's concern about corporate earnings and the more-than-frequent flow of profit warnings coming from some of the strong companies, ... Earnings disappointments are overpowering the election results for now, particularly in the financial sector.Alan Ackerman
It's OK to buy on the dips but it's not OK to commit much money at this time, but we are seeing signs of stability.
Alan Ackerman
Each day is another adventure, ... We have complex cross currents working in an environment where we have a nasty and negative tone.
Alan Ackerman
Lots of money has moved to the sidelines, ... People are not comfortable with the uncertainty ahead, made up of the fact that many of the tech companies keep lowering their guidance.
Alan Ackerman
My sense is that an earnings recovery is further away than expected and there is no immediate catalyst to turn this market sharply higher. We could have a trading rally, but on balance, people are still nervous about the earnings outlook.
Alan Ackerman
We may have bumped the bottom, but the question is, can we bounce back ... Right now, you have a market that has no leadership, has no conviction. I believe more people will be watching the Yankees and the Mets.
Alan Ackerman
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