Everyone is talking about Cisco getting rid of its inventory problem a little bit faster than people had thought. But the whole Nasdaq is looking better.
More Quotes from Brian Finnerty:
Cisco is a proxy for the rest of tech. They touch every level of technology in their business.Brian Finnerty
After the announcement yesterday, the tech stocks were the stars, and they were really rocking today.
Brian Finnerty
I think people assume Merrill wouldn't say something like that unless they expect pretty good news from Intel when it reports tomorrow after the bell. Intel is the technology bellwether, so if things look good for them, that bodes well for other techs.
Brian Finnerty
There's no enthusiasm out there. A lot of people are waiting for the Federal Open Market Committee to meet. There's no big trend here.
Brian Finnerty
I think the market is going to rally right around election time because of a very oversold condition. We have a market that is way oversold so I think it is going to bounce.
Brian Finnerty
I almost thought that a quarter-point rise in rates was priced into the market. But I think it depends on how the Fed says it or what they do because if it's the first in a series of hikes the market is going to get slammed hard.
Brian Finnerty
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