I think the MA activity is certainly the headline, with Oracle-PeopleSoft and a hangover of Sprint-Nextel. As the acquisitions start to pick up, that's new money coming into the market, which is positive.
More Quotes from Hugh Johnson:
I think what the half-point cut showed was that the Fed for the first time appears to be taking the situation very seriously. I think investors are also still mulling the move and thinking what is it the Fed knows that they don't know. Could it be worries about a double-dip and deflation It's this uncertainty, among other factors, that's the reason why we're down today.Hugh Johnson
The stuff that worked in the fourth quarter and the first part of this year isn't working any more, like Internet stocks, large-cap tech stocks, and other large-cap names.
Hugh Johnson
If the Fed raises rates three times, they're not doing it just to have fun. Life is good.
Hugh Johnson
Just as the bond market and Europe has priced in what this tragedy means ... so too will the stock market. The real question is what happens at 1030 (a.m. ET).
Hugh Johnson
There have been a lot of high-profile companies taking a lot of extraordinary drops. When things go south for a company, they really go south.
Hugh Johnson
When the markets struggled for a technical bounce in the morning, that was investors sending a message that we're either heading toward an economic recession or toward a profits recession.
Hugh Johnson
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