The silver lining on this is that it confirms that the Federal Reserve will not be raising interest rates anytime soon, which is good news for the market.
More Quotes from Donald Selkin:
The market seems like it wants to go higher. People are looking beyond the valley.Donald Selkin
The main thing is how this tragedy is going to impact the economy, and obviously it's negative.
Donald Selkin
We did OK for the first half of the month and then faded out -- a lot of the economic data in the last few weeks have been a little discouraging. It's kind of a sour way to end a good quarter but not too bad for the month.
Donald Selkin
Some of the stocks that rallied in advance of a possible Bush victory might be vulnerable.
Donald Selkin
By November, the bulk of the third-quarter earnings will be out there, and we know that they've been pretty good. But for stocks to go higher, we're going to need another catalyst. Expectations for a strong fourth quarter could do it, positive comments on the holiday season could do it, but really, I think it's going to be the economic news.
Donald Selkin
We made a good recovery off the April lows, but now we may need to move sideways and consolidate. Maybe then that will set us up for the typical November through January advance.
Donald Selkin
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