Companies are finally putting their money into play and that is a vote of confidence in the strength of the economy and a positive for stocks.
More Quotes from Jim Awad:
It's more news of good economic growth and low inflation. That takes pressure off of stocks.Jim Awad
Both consumer confidence and housing starts were stronger than expected. Treasuries are getting killed, so people are worried interest rates will go even higher than expected.
Jim Awad
FedEx's report not only helped lift the transport sector, but the entire market. In the absence of major negative news, we may see another rally between now and the end of the year.
Jim Awad
Conglomerates and cyclical companies have been on the spot lately and after today's industrial data, they once again became a good buying opportunity. But the trading is volatile and a bit distorted given the options expiration.
Jim Awad
Today is all about downgrades. This has given a negative tone to the market.
Jim Awad
In terms of the Fed, the most favorable move from the market's point of view is if they raise interest rates by 25 basis points and keep the same language. If they raise 25 basis points and sound worried about inflation the market may get demoralized.
Jim Awad
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Trevor Dunn
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The city and province were given up to anarchy; the coloured people, elated with victory, proclaimed the slaughter of all whites, except the English, French, and American residents.
Henry Walter Bates