There are a lot of cross currents today. And there is talk that one of the big hedge funds is going under the waves.
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
The retail stores are doing well. Consumers remain confident, continue to be out there spending their money, ... A lot of money was created with lower interest rates and refinancing -- things of that nature. So, consumer confidence has stayed very high and retail stores, that have actually done it right, have been doing pretty well.
Art Hogan
They're (Intel) not citing problems like currency or raw material costs they're citing demand, and that puts a spook in all of the markets, ... There's a little bit of a flight to safety and Hewlett is a news-related purchase.
Art Hogan
It's not a major deal, ... Whatever bets have been made most of the day (dried up) people are just walking away and waiting until tomorrow.
Art Hogan
With the financials, that entire space has been tarnished by a confidence crisis. Also, on a more fundamental level rather than a psychological level, there's no investment banking business going on right now. The concerns remain about the banks' exposure to bankrupt telecoms WorldCom and Global Crossing,
Art Hogan
Hewlett-Packard didn't please us with its results, and neither did Cisco yesterday,
Art Hogan
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