There is a lot of concern about Cisco's earnings. Rather than risk major disappointment, people are saying it might be better to stay out of the market. And because it is a bellwether stock, Cisco will have an impact on other tech stocks.
More Quotes from Jeff Cheah:
Stabilizing ... that is the key word that investors are reacting to.Jeff Cheah
Interest rate sensitive stocks did well today as well as the oil and gas sector, but overall you can't really say that there's a lot of direction...given the absence of any market-moving news today. Also the liquidity wasn't there with the U.S. markets closed.
Jeff Cheah
What is clear is that Japan does not really want a strong yen. If the currency gets too strong it might stall the growth momentum we've seen coming out of Japan.
Jeff Cheah
There is a fundamental sentiment change, aside from that nothing has changed. Sentiment was very bearish yesterday and you could attribute that to nervousness. I expect a roller-coaster ride for another two-to-three weeks. I'm bullish but I don't expect it to be a smooth ride.
Jeff Cheah
If they were to cut rates, it might endorse the view that the Fed believes inflation is not a problem. And that can be a dangerous game.
Jeff Cheah
That kind of news will spook the market and we will hear more of it because we're at the peak earnings reporting season.
Jeff Cheah
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Based on Topics: Disappointment Quotes, People QuotesBased on Keywords: bellwether, ciscos
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