We've priced to perfection, so you're going to have a little bit of a retrenchment,
More Quotes from Art Hogan:
It's a lagging number that will have two revisions. There were no major surprises. Economic data will still move this market, but this isn't one of them.Art Hogan
In the earnings pre-reporting season, the companies that alarmed us so much were tech and telecom, ... We still have earnings jitters and nervousness about revenue growth. I think people feel there is more value in the Dow, which has been hanging in there, so that's where the flight to quality comes in.
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
I think we need to get through the options expiration tomorrow,
Art Hogan
No one thinks the Fed is going to raise rates, so to what avail does a benign PPI number do to the market,
Art Hogan
The market had a lot of bad news to tap dance around today, ... We had bad corporate news for some of the Dow stocks ... an FBI warning and geopolitical concerns with Iraq.
Art Hogan
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