Even if the Fed skips raising rates at the next meeting, it has to be seen as a symbolic act and not as a change in monetary policy. Stocks would only get a temporary boost.
More Quotes from Edgar Peters:
It was encouraging that the Dow managed to stay above 11,000 yesterday, showing some firmness at that level. We may see some weakness linger, but we should overcome it.Edgar Peters
Trading volume is dwindling and we are probably not going to see large bets today and tomorrow, and especially after inconclusive economic data.
Edgar Peters
The oil data is giving some support to the stock market, especially given the mixed company earnings that have been released in the past couple of days. Declines in oil prices are always positive for equities.
Edgar Peters
Certainly seeing more merger and acquisition activity going on encourages people too because it's a signal to them that things are undervalued.
Edgar Peters
Even though revenue is not growing as fast as profits, companies have been able to leverage what they have. Companies have been able to control costs and increase productivity.
Edgar Peters
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