Energy prices, which were lower, have turned up. I think we quickly came to the reality that a less-than-expected outcome from Hurricane Rita doesn't take away from the worse-than-expected outcome from Katrina.
More Quotes from Barry Hyman:
I think there was some bargain hunting coming in on the back of good news.Barry Hyman
On the earnings front, it's kind of mundane news, ... but the restructuring seems more aggressive than had been thought, and that's good for the stock.
Barry Hyman
It was unanimous we'd have a year-end rally until the yield curve inverted. We wanted to close the market on a high note this year, but now we're worried that the 2006 market will have to deal with this. The next Federal Reserve meeting will be extremely critical. We have to hope this isn't predictive of a recession or a slowing economy.
Barry Hyman
It's a transition market. I think (last week) indicated the willingness to look forward at the upside of the story. There isn't a lone voice expressing positive attitudes toward technology but this week indicated the ability of the market to look forward.
Barry Hyman
Most of the growth stories are not performing today and that is how we'll go into the Fed meeting. There's still very little conviction in the market.
Barry Hyman
Higher interest rates are an impediment to companies where cost is important and that's Old Economy stocks, ... What we are seeing is a defensive move into technology stocks.
Barry Hyman
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Based on Topics: Energy Quotes, Reality QuotesBased on Keywords: less-than-expected, worse-than-expected
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