We're at a point where there is some rotation, but I believe it's a very positive development because you're getting broader participation on the economically sensitive sector because, the fear of recession is going away and the deflation fear is gone, ... Business Day.
More Quotes from Joseph Battipaglia:
Lower interest rates increase discount financing for consumers. Also, the Republican sweep of the Senate and the House last week is construed as a positive because it's also seen as a win for market-friendly fiscal policy ,Joseph Battipaglia
Today's ISM services number was a disappointment. The economy can't improve if the only sector expanding is the consumers. And now the mixed retail result is raising concerns there, too.
Joseph Battipaglia
The devil's in the details. The key deadline for Iraq is Dec. 8, when it will have to come clean about what they have by means of weapons of mass destruction. It remains to be seen whether the United States and the U.N. are satisfied with those explanations.
Joseph Battipaglia
I'd say we're doing very well, all things considered, ... Clearly, there is more money available out there, when even sectors that are fairly stretched, like tech and banks, are doing well today.
Joseph Battipaglia
Oil prices at these levels are providing all kinds of dislocation issues for stocks. Earnings and the economic data are O.K., but with oil where it is, the market is unable to make a decision, long or short, and there's certainly no real catalyst for buying.
Joseph Battipaglia
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