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,
More Quotes from 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
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
The positive tone has more to do with the economic data that showed some signs of life in the economy. We've got through the Enron debacle and some selling that represented investors looking to lock in profits earlier on, ... Now we're starting to get a serious picture of what next year looks like, and it's probably the first serious step toward an upward move in the market.
Joseph Battipaglia
But if you step back, it seems to me that we're still in the trading range we've been in for some time. There's still the push and pull between rising earnings and rising interest rates.
Joseph Battipaglia
I think it is a quarter of a point move up, but a neutral stance by the Fed, opening up the way I think for a big rally for the rest of the year,
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
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Based on Topics: Corporation QuotesMount Harris is of basaltic formation, but I could not observe any columnar regularity in it, although large blocks are exposed above the ground. The rock is extremely hard and sonorous.
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A soul that is kind and intends justice discovers more than any sophist.
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Sacred cows make very poor gladiators.
Nikki Giovanni