The market is down as crude prices are up because of the approaching hurricane, which could hurt production, and then tomorrow's FOMC meeting is also going to be important, ... I think the Fed will do 25 basis points but then the commentary will be import
More Quotes from Marc Pado:
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.Marc Pado
There is very little economic news out this week, and nothing is due out today. All eyes are on the Fed.
Marc Pado
Obviously the Iranian thing is a wild card and nothing's going to get resolved in the short term, but the earnings are really what's key to the market and any longer-term perspective.
Marc Pado
Every time investors think the Fed is going to be one-and-done, they rally the market 100 points. Yesterday was no exception. The potential for an additional 25 basis points in June faded from over 50 to about 28. That gave the market the added juice it needed to penetrate serious overhead supply.
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
It looks like some seasonal New Year's buying will give the market a bullish start, but this January faces many negative technical obstacles.
Marc Pado
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