Had it not been for the impressive January same-store sales reports, decent forward-looking statements and the big drop in energy prices, the market drop would have been far worse. With the understanding that we needed to keep our eyes on wage pressures and productivity, both of those components suddenly soured investors on the idea that the Fed was truly done.
More Quotes from Marc Pado:
Nobody likes to fail in the fourth quarter. There are going to be companies that did well in the holiday season and they will be able to add to gains.Marc Pado
There was so much expectation built in for the stock ... I think that the expectations were about as high as they could get for it. I think it was a case of buy on the rumor and sell on the news.
Marc Pado
While the market was still moving higher, the internals leave much to be desired. The action is not negative, just not impressive, which leads me to believe that we are in an up-trending trading range.
Marc Pado
With China, they often do this, where they take one small step until the pressure gets high again. It's unlikely that China is really going to move aggressively to slow their economy. It would take aggressive moves in order to make an impact on China's growth at this point.
Marc Pado
The negative productivity number we saw today about the fourth quarter raises fears that companies are not going to be able to absorb those costs.
Marc Pado
Any time you remove uncertainty, it's good news for the market. Having raised the question, the market has shifted its attention to Greenspan from earnings.
Marc Pado
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