The increase in oil prices as trading started this morning took away all the incentive to buy stocks. With oil going up again and a Fed meeting tomorrow, investors are being very cautious. Demand today has dried up.
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
We need to see a decent number of earnings coming through with good numbers before we see the market able to hold a rally.
Larry Peruzzi
This morning, we were able to sustain momentum somewhat off of some good earnings reports. But the pattern still hasn't broken entirely that people are looking to sell into the rallies. The concerns continue to be inflationary.
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
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.
Larry Peruzzi
Readers Who Like This Quotation Also Like:
Based on Topics: Moderation & Temperance QuotesI should have my own publishing companies.
Solomon Burke
I'm super serious about that stuff. I mean, it's rare that I sit down at a drum set when I'm not touring, because we tour so much.
Travis Barker
I don't know, in view of the situation and the act going where it was going, I don't know, the rage did go all over the place. It went to everybody in the room.
Michael Richards