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.
More Quotes from Donald Selkin:
Normally, lower rates would be seen as a positive for stocks, but in this case, it seems like the Fed is behind the curve and the Fed is supposed to be leading us out of this. For months people have been talking about the disconnect between the economy and stock prices. Now it's starting to seem like that disconnect is narrowing.Donald Selkin
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.
Donald Selkin
Where's the motivation to drive stocks higher. I thought that we could have done better, but there was no real motivation to move things higher or lower.
Donald Selkin
This is where the earnings growth is. This is where people perceive the opportunities are to make money.
Donald Selkin
If it comes in too weak, you get worries about the economy. If you get a blowout number, everyone will get obsessed about interest rates again, the bond market will go into a tizzy, and stocks will slide.
Donald Selkin
So far, they have not made a negative pre- announcement on earnings. I don't think they will. You have a strong unit sales growth because of the lower priced personal computers, and I think that should propel the semiconductor and microprocessor stocks.
Donald Selkin
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