The background news isn't that good with Iraq and corporate news isn't that positive, so it's probably a good reason for people to step back. We've also got technical things going on pushing things all over the place.
More Quotes from David Thwaites:
Reality bites. Micron underlines that despite the market run-up recently, there's still no confidence about growth and earnings.David Thwaites
Markets are subdued ahead of the Fed (U. S. Federal Reserve) meeting on Tuesday. It's not clear what the Fed's intentions are.
David Thwaites
The first quarter should mark the trough in earnings, but judging by the market's negative reaction to recent warnings from the likes of IBM, there's little room for disappointment.
David Thwaites
I suspect it's going to be a fairly weaker open. Stocks are still looking for direction in Europe -- there are no big macro drivers today.
David Thwaites
My feeling is that the actual numbers will be OK, but that there'll still be a lack of confidence about where we go from here over the next six to 12 months. Generally, we're still likely to continue grinding sideways to lower, although at the moment it's looking like its more lower than sideways.
David Thwaites
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