In a normal week, these numbers would be positive enough to trigger a rally in stocks. But with the two hurricanes, oil data has become very volatile and the same has applied to the stock market reaction to the data.
More Quotes from Larry Peruzzi:
It's a number kind of closely watched by the Fed. It's a big factor in the rate decision-making, so the fact that it came in line is a positive trend.Larry Peruzzi
All indicators are pointing to strong economic growth. That's got people excited, especially in an environment of high commodity prices.
Larry Peruzzi
If we saw a milder winter, or a reduction in energy prices and commodity prices, that will certainly increase the consumers' discretionary income and spur interest in retail stocks. Retailers need to be more creative in figuring out ways to bring consumers back into the stores.
Larry Peruzzi
The outlook for technology companies remains strong and demand for shares in the sector helped lift stock indexes late this afternoon.
Larry Peruzzi
Consumers are beginning to feel the impact of higher oil prices in their pockets. Less confidence means less spending and no wonder we have been seeing shares of retailers and banks faltering.
Larry Peruzzi
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