We finally saw a rebound. We finally saw some buying again. We didn't see any real bad news, there is no downgrade of any tech stocks so I think the market finally didn't have anything negative.
More Quotes from Kate Warne:
The market has really built in a higher price, being concerned about the possibility of supply disruptions, but the Saudis said they had a plan to make that up. The market is warily eyeing what's going on, and at the moment it's saying there's enough excess capacity, so supply is not a major issue in the short term. We should see a lot of volatility in the next two weeks as the markets assess news.Kate Warne
I think people decided this morning's sell-off was probably a mistake.
Kate Warne
Expectations have come down enough at this stage. This is the first day in a long time when the market has ignored bad news and the sentiment has remained positive,
Kate Warne
Clearly, the people who are buying growth stocks are saying the good news from a series of interest rates in the U.S. and Canada will mean inflation remains under control. The overall sentiment today was basically optimistic.
Kate Warne
Everyone thinks they'll say, 'We'll continue to be watchful and concerned about rising inflation but at the same time we're comfortable that no action needs to be taken,'
Kate Warne
We continue to have uncertainty because what he focused on didn't really help the market draw inferences about what next week's move is going to be. We thought today might give us a hint, instead he focused on tax cuts and other things.
Kate Warne
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