During earnings, we're often in a trading range, and I think we still are right now. We've got 100 members of the SP reporting this week, a lot of economic news and the Fed tomorrow, so for the market to go sideways a bit is not a bad thing.
More Quotes from Art Hogan:
In the earnings pre-reporting season, the companies that alarmed us so much were tech and telecom, ... We still have earnings jitters and nervousness about revenue growth. I think people feel there is more value in the Dow, which has been hanging in there, so that's where the flight to quality comes in.Art Hogan
I think we need to get through the options expiration tomorrow,
Art Hogan
The Fed said rates are going higher, which was no surprise, ... But when you're in an interest rate rising environment, all the smatterings of what would be considered good news look like a confirmation that rates will rise.
Art Hogan
We are starting to see (economic) stabilization and, I think the fact that the Fed didn't make a move speaks to that.
Art Hogan
The concern is about how much the economy picks up and how quickly that translates into earnings growth for corporate America.
Art Hogan
In terms of the thought process on the economy, today's ISM data on the services sector didn't help,
Art Hogan
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