With oil prices at these levels and without a clear assessment of how deep and lasting the impact of Hurricane Katrina will be on the U.S. economy, investors are likely to be defensive in regards to stocks.
More Quotes from Martin Yokosawa:
Crude is down, but it's still much higher than it was last year, the same with natural gas. When investors see their October statements, they're not going to be too thrilled and that's not good for November.Martin Yokosawa
Stocks have been following oil prices up and down. And in the meantime, if a company comes with strong numbers, investors stick to it.
Martin Yokosawa
The consumer confidence report will be closely watched to see if higher energy prices are hurting household budgets.
Martin Yokosawa
Demand for stocks seems to remain robust at this start of the year and, of course, fewer interest rate increases may be very positive for the markets.
Martin Yokosawa
Today's data confirmed that big industry is still booming and, of course, that lends support to the big names in that sector.
Martin Yokosawa
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