The real story is how well the U.S. economy is performing, ... Brazil is important, but I think we're seeing the end of the emerging markets crisis, not the beginning.
More Quotes from Joseph Battipaglia:
CPI data was benign but the data was prior to Hurricane Katrina, ... Still, no one is quite sure about what the Fed is going to do going ahead. So the market is not showing much conviction.Joseph Battipaglia
Whenever companies come out with warnings, it reminds investors about the perilous nature of the earnings environment at the moment,
Joseph Battipaglia
What's going to be positive here is delivered earnings, a fairly bright outlook for the second half by corporations, and a growing comfort among investors that perhaps the tightening initiative by the Fed is coming to a close,
Joseph Battipaglia
We continue to be in this trading range, at the lower end right now, ... The only catalysts that can get us out of here in the next few weeks is some relief at the pump, lower oil prices and news about how much the Fed is going to raise rates.
Joseph Battipaglia
Between very high short-interest looking to cover, fairly good economic news, signs the Fed is staying put and better earnings on the way, people are very eager to get in right now, ... I think that barring a terrorist attack or some very disappointing earnings, the market looks like it's going to continue to gain through the next few weeks.
Joseph Battipaglia
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