All the economic data is pointing to a slowdown, ... It's falling more than we expected and that's not good for earnings. Uncertain times have caused money to move to the sidelines.
More Quotes from Art Hogan:
We've had a lot of bad news today -- the economic data, Cigna and the insurance sector is doing poorly, a bunch of companies missing estimates or warning -- but this is a market that really doesn't want to sell off,Art Hogan
The biggest fear is earnings going forward, ... All the consumer non-durable multinationals are going to have to warn about the ill effects of the strong dollar versus the weak euro, but that's cyclical.
Art Hogan
This was a nice way to start off the new year. A lot of this was driven by the fact that the Fed confirmed that end is in sight. We've held onto the belief that when the Fed ends that stock prices will go up. We'll still have rate hikes but the market is celebrating that we'll see an ending sooner than later.
Art Hogan
People are starting to wake up to the credit exposure J.P. Morgan and Citigroup have to WorldCom,
Art Hogan
I don't think we can look forward to any great news coming out in the September-October period.
Art Hogan
We've priced to perfection, so you're going to have a little bit of a retrenchment,
Art Hogan
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