If you look at Fed funds futures for December, they are indicating that the Fed will take a breather at one of the remaining meetings this year. It's been one of the positives in the last week as it runs through investors' psyches.
More Quotes from Arthur Hogan:
Our chief concern will be how the third- and fourth-quarter GDP numbers come out in light of the increased cost of energy,Arthur Hogan
In terms of this earnings reporting season, more what people will be looking for is what the fourth quarter will look like. Nine out of the last 10 times, the fourth quarter has been higher, so we'll be playing close attention to any kind of guidance we get.
Arthur Hogan
We had a terribly horrible day going on until the later afternoon when we had a nice turnaround, ... There's clearly some bargain hunting going on.
Arthur Hogan
We've had colder weather across the country, so we're back on the energy watch, and that's certainly going to have an effect on stocks.
Arthur Hogan
The fact that the Fed is remaining vigilant is positive for earnings growth. They see a robust economy and they see that continuing.
Arthur Hogan
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