How the market interprets some of the earnings next week will be the broader focus. With the employment report out of the way and the inflation report due a ways away, the market will focus more specifically on companies.
More Quotes from Barry Hyman:
There's going to be this flip-flop next week and continually until we get through earnings season, going from earnings to worrying about the economic slowdown and what inflation brings so I think next week is going to be marked by that. We're getting to the point where the market needs good earnings. It needs to have a catalyst to get the growth sector moving again.Barry Hyman
There's concern in the markets that higher oil prices may hurt the economy.
Barry Hyman
Cisco's story was that inventory concerns and demand driven problems are not fixable as early as Wall Street expected, ... People are understanding the impact of what Cisco said. Wall Street wants to believe things are rosy in that sector and they're just not.
Barry Hyman
A lot of the gains are due to the earnings story.
Barry Hyman
The next three percent move for the SP could be up, and that would take us to important resistance levels. The question is what is the bias beyond that, what is the next five percent for the market That's not clear.
Barry Hyman
I don't think the Fed looks at the equity market and makes decisions off the equity markets, but the equity markets are absolutely a reflection of wealth and consumer confidence, ... That is what the equity markets mean in relation to other economic scenarios and that is where (the Fed's) interest is.
Barry Hyman
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