You're in an environment where you're going to have really bad second- and third-quarter earnings comparisons for the market. To date, the market has been selling off when there's been bad earnings news and rebounding when people think the Fed is going to cut rates.
More Quotes from John Forelli:
With the ongoing uncertainty about the presidential election, I think it was wise not to change their stance.John Forelli
If unit labor costs are tame and unemployment comes in 'in line,' then 'the-Fed-is-pausing' camp gets a lot of credence.
John Forelli
This is the time when you get profit warnings instead of earnings surprises. Once the reports start flying in next week, you typically get a lot of positive reinforcement from earnings.
John Forelli
What this market is going to need is for the Fed's next (interest rate) move to be down rather than up.
John Forelli
The market was really shaken by the Fed language. You're seeing a move into more defensive names and a move out of economically sensitive issues.
John Forelli
People have been worrying about consumer spending being impacted by the price of oil. Those concerns remain, but today you're seeing less of a sense of panic about it, and that's allowing the market to stabilize.
John Forelli
Readers Who Like This Quotation Also Like:
Based on Topics: Environment QuotesBased on Keywords: second-
If you read in front of your kids, it's very likely that they'll become readers, too.
John Lithgow
An effective human being is a whole that is greater than the sum of its parts.
Ida P. Rolf
In university they don't tell you that the greater part of the law is learning to tolerate fools.
Doris Lessing