I think we're going through this natural vacuum in the news cycle where we have a quiet economic calendar and the fourth-quarter earnings reports are slowing down. It's difficult to generate any interest in the market.
More Quotes from Art Hogan:
The increase in wages was the piece that really speaks to the inflationary pressure. The fear is that the Fed doesn't stop in March, that it continues through May. If corporate America's borrowing costs go up, that makes stocks less attractive.Art Hogan
There's been plenty of reasons to sell stocks today.
Art Hogan
It's good news because it shows there's no creeping inflation. And the Fed is not worried about inflation. What they care about is the manufacturing side of things, retail sales and consumer spending.
Art Hogan
We have extremely large concerns about inflation, high interest rates and high energy prices, ... There is great concern that we don't know how much earnings growth will decelerate over the next two quarters.
Art Hogan
If they don't meet expectations, I think we're in trouble -- but I think the bar has been lowered across the board, ... It's more about the guidance and what they say about future quarters.
Art Hogan
The market has been able to stomach a lot of bad news -- we've seen disasters every day and the market has trended higher, ... This is day four, so it's only natural to want to take profits.
Art Hogan
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