The only thing that seemed to really move today was oil.
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
Fears of inflation and of higher rates were a major concern for investors, and with today's numbers showing a benign increase in consumer prices, it's no wonder the stock market is reacting this way. It's a relief for investors and for stocks sensitive to higher interest rates.
Edgar Peters
This is probably as good as it's going to get for the stock market any time soon. I don't believe the Fed is actually close to ending the rate hikes.
Edgar Peters
With energy prices at such high levels, any decline is very positive. The ease in oil is certainly helping the markets today.
Edgar Peters
People are thinking maybe there was an overreaction to the mad cow issue, and there is a little bargain hunting going on,
Edgar Peters
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