Even though it's a tough environment for travel related stocks, the catalyst for American Express is going to be the ruling against Visa and MasterCard. It's a very significant positive.
More Quotes from Barry Hyman:
That's going to dominate the market today until we get more information. A potential story like this from an OPEC producer brings up the worry that oil can spike to new highs very easily. We see the reaction in equities when oil goes higher. It stops equities in their tracks.Barry Hyman
We need some inference from the Fed that interest rates beyond June are in doubt,
Barry Hyman
I think there was some bargain hunting coming in on the back of good news.
Barry Hyman
I think the year starts out very similar to how it's ending. Just because a stock is cheap doesn't mean it should be bought you have to look at the growth rate and I think the Fed lowering interest rates is going to be very important.
Barry Hyman
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.
Barry Hyman
There is a little bit of profit-taking and a little bit of nervousness as we go into Thursday's GDP number, ... The durable goods number was a little stronger than expected. That shows continued strength in the economy. That is not what you want to see right now.
Barry Hyman
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