In that environment, markets could retest lows, but if we get the policy response then we'll get more of a rally.
More Quotes from Khuram Chaudhry:
All eyes are on the Fed's decision expected later today (Wednesday). We've seen some downward pressure, especially on some of the telecom names, particularly France Telecom, and in also on some German stocks. But the main driver has been what happens with the Fed decision today,Khuram Chaudhry
The worse the outlook for corporate profits the better it's becoming for investors who are beginning to sense that perhaps the central bank will not raise interest rates again, ... When liquidity is in poor supply, it's good for stocks versus other asset classes.
Khuram Chaudhry
The Royal DutchShell story could be a drag on the sector today.
Khuram Chaudhry
We're finding that the data from the U.S. on industrial activity were pretty weak. It's so-so on the consumer although housing activity is still holding up. When you look at Europe, Sweden and Hungary both cut interest rates this week.
Khuram Chaudhry
I think the focus in the U.S. is on economic data coming out -- things like U.S. import prices. You find a weak dollar will translate into higher import prices, ... In corporate news, Cisco's numbers could have a positive impact, it was helping some of the European tech stocks early ... but European bourses have pulled back a bit.
Khuram Chaudhry
Iraq is still impinging on the market making any move firmer. My concern is that it is going to become more of an issue as we enter next year.
Khuram Chaudhry
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