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.
More Quotes from Art Hogan:
Just because Oracle is up and is optimistic about the future is not getting us excited about everything, ... Nobody's convinced there will be a rebound in the second half.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
We didn't see any changes in his game plan and that is clearly good news for stocks at this juncture.
Art Hogan
There's an unbelievable number of reports coming out, any number of which could move us one way or the other, ... If we have a blowup in the jobless claims, and it goes above 400,000, if the consumer sentiment number doesn't confirm today's consumer confidence number, you could see some selling.
Art Hogan
The markets are hanging on nicely, considering the massive gains yesterday, ... Clearly, if the market can hold onto its gains from yesterday, and through the weak durable goods report today, the path of least resistance is upside.
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
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