I wouldn't read too much into today's downdraft, but how holiday sales come out is going to be key, and that would drive the market.
More Quotes from Giri Cherukuri:
Short-term interest rates are rising and people are worried how long the economy is going to continue to do well. That's not helping the market.Giri Cherukuri
It was a little bit weak, but a little weak means the Fed won't be so aggressive in raising interest rates, which should help the market.
Giri Cherukuri
It's been pretty quiet, there's light volume, and there's lack of news, so that causes a little bit of volatility.
Giri Cherukuri
I'm a little surprised the oil prices haven't hurt the market more.
Giri Cherukuri
Companies are meeting expectations, but they are not beating expectations by a great amount, and I think that's part of the indecision today.
Giri Cherukuri
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