We are starting to see (economic) stabilization and, I think the fact that the Fed didn't make a move speaks to that.
More Quotes from Art Hogan:
I think there's an interesting space called DSL, which is an avenue to get onto the Internet at a high-speed rate. It stands for digital subscriber lines. It competes with cable access and offers a speedy access to the Internet.Art Hogan
But with the specter of next week's Federal Reserve meeting looming, most gains came from options trading, said Art Hogan, chief market analyst at Jefferies Co. For the last two weeks, the market has been focused on the Fed, ... That's still the case today, and it's going to be the case Monday too.
Art Hogan
The Fed said rates are going higher, which was no surprise, ... But when you're in an interest rate rising environment, all the smatterings of what would be considered good news look like a confirmation that rates will rise.
Art Hogan
It certainly doesn't hurt, ... It always helps to hear her say that she's still confident but it's 12 months out.
Art Hogan
We're seeing better earnings news in corporate America. That's what the market is celebrating, ... We made major collateral damage to stocks in the last six weeks and over a larger 2-12-year period. What's happening now is that the market is bottoming out and is building a higher support base in the process.
Art Hogan
It's a 'buy on the rumor, sell on the news' type of market, especially in the telecom and tech sectors,
Art Hogan
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