The equities markets are very forward pricing mechanisms so the (corporate) news you're hearing has been priced into the market, for the most part. The news that you should focus on is what will be suggested in the commentary that comes out because we're trying to invest for fourth-quarter growth.
More Quotes from Art Hogan:
The bad news is stuff that we know about -- it's Corporate America, especially on the technology front, letting us know they're not going to make their numbers and we knew that was going to happen,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
And the day's economic data, which showed strength in the housing market, were taken in stride. Good news is good news, ... This is the time we need to hear good news in the economy.
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
All the economic data is pointing to a slowdown, ... It's falling more than we expected and that's not good for earnings. Uncertain times have caused money to move to the sidelines.
Art Hogan
We opened up the floodgates of bad news, ... The good news is, a lot of this is behind us, and we probably overreacted on the downside.
Art Hogan
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