The market had gotten pounded for a few days, and the Dow fell below 10,000 Monday, which still has some mental significance, ... So we're getting a nice bounce today.
More Quotes from Mark Bryant:
The court numbers were really low.Mark Bryant
It's the first day of the quarter, which means there was a lot of end-of-quarter window dressing yesterday. So a lot of people who bought yesterday are looking for reasons to sell today.
Mark Bryant
A lot of this (rally) you can attribute to oil being down more than a dollar, ... You had basically a one-stock decline with 3M this morning, and because that is somewhat seen as a proxy for the economy, like GE, it was weighing on the blue chips.
Mark Bryant
What's interesting is the change in how oil prices are influencing us, ... Today oil was up and the market is holding up, yesterday oil was down, but we sold off anyway. We'll still keep an eye on it, day to day but it clearly isn't as tied to the stock action as it has been.
Mark Bryant
There's no conviction out there, ... There's a lot of concern that the pace of the economic growth is slowing, and summer is just a seasonal tough time.
Mark Bryant
The concerns are still there and they will continue, but people are willing to find good excuses to put money to work, like yesterday, with all the good earnings, ... Interest rates remain at historic lows, so even if they rise 50 or 100 basis points, if we keep seeing double-digit earnings growth each quarter, the earnings will outpace the higher rates.
Mark Bryant
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