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.
More Quotes from Art Hogan:
There's certainly not one thing you can point to and say 'this is because,' ... It's company by company.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 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.
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
Obviously we're in an environment with the friendlier interest rates, ... The first sector that does well (after cuts) -- except for the credit card issuers -- is the retail stores.
Art Hogan
We've gone through a lot this week in terms of getting ready for the Fed, ... We've got some important news at 200 on Tuesday and obviously you're not going to make a huge bet in front of that. However, we seem to be in good shape for that announcement.
Art Hogan
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