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.
More Quotes from Art Hogan:
This is a delayed reaction to the Fed's rate cut and it was good news, ... It looks like investors are participating.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
We've got more ongoing focus on the bond yields. We've been in lockstep with it all week, and today is no different. There aren't any market-moving items due today, so we'll look at energy prices today for something else to drive the market.
Art Hogan
One of the main drivers for the Dow and SP has been the price of oil that's been dragging on the companies that are especially dependent on lower oil prices,
Art Hogan
By this time next week, we'll probably say we overdid it and be buying stocks.
Art Hogan
All of the news we got today was negative and the market was defying it ... the news was atrocious today,
Art Hogan
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