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,
More Quotes from Art Hogan:
We had a terrific week last week, ... Investor sentiment has shifted to people not wanting to miss out on any strength. There's a lot of cash on the sidelines.Art Hogan
I think there's going to be ongoing euphoria about the Microsoft decision. It's not just Microsoft it's sort of a pro-business decision.
Art Hogan
When the Dow was doing its swan song yesterday (Thursday), the money was staying in the market and rotating into tech, ... That's the first time that's happened this year and that's good news -- folks are changing their minds about the sectors but they're staying in the market.
Art Hogan
That gives us a lot of trading time, unfortunately.
Art Hogan
The door being open for further rate cuts is bad news. We don't need further rate cuts, we need stability in the economy, ... We do care that we oversold yesterday and there's relatively positive news on the semiconductor front.
Art Hogan
I'm thinking the Fed will leave the rates unchanged, ... We've ramped up pretty higher into this meeting and my concern is the psychological letdown if the rhetoric remains strong.
Art Hogan
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