Retailers came out with pretty good reports. One would think we'll see a pretty good retail sales number, and that would give support to the market, absent much higher core inflation numbers.
More Quotes from John Augustine:
The stock market has an opportunity to break upwards if corporate CEOs and CFOs say some good things, or at least some neutral things, about the outlook,John Augustine
If the economy is as strong as the Fed is worried about, that's going to mean better corporate earnings. The driver is rotating from front-end consumer to back-end business spending. And business spending is being driven by the need to continually improve productivity, which brings in tech spending.
John Augustine
Overnight, you saw good news coming out of the tech sector and we suspect they are good harbingers of things to come out of the earnings season for the next couple of weeks.
John Augustine
Energy is going to catch the attention of the market. It's probably a force that's not going to leave because we're in transition from concern about oil to concerns about natural gas and how that will affect consumer spending as we head into winter.
John Augustine
So far financial markets like what they're hearing from the chairman.
John Augustine
Big institutions are holding back their own capital. They're looking for an upside catalyst for stock prices. Any activity on the mergers and acquisition, buy-back or dividend fronts, mixed with good news out of energy or the Fed, would be a catalyst to bring the big institutions back into stock market.
John Augustine
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