The key here is still commodities. Oil has been above 30 a barrel for what, the last 90 days. Commodity prices need to come down. Wholesale numbers yesterday were high because of energy, because of oil. It's a concern. It's a drag on the economy and the dollar.
More Quotes from Matt Ruane:
But this is a normal pullback after the run up we've seen in October. I wouldn't read too much into it.Matt Ruane
It's all about the Bush plan today. Any stocks that pay dividends are doing well today, particularly telecoms and utilities. But I hope that this is not a short-term solution. A range of 300 billion to 600 billion is pretty murky. We're going to have to h
Matt Ruane
The near term out of these companies is shaky. It's the forecast for higher growth in the second half that is really bringing markets higher today. People are seeing a little light at the end of the tunnel.
Matt Ruane
It's all Texas Instruments today. After IBM and Intel last week, we're seeing tech take two steps forward, one step back.
Matt Ruane
We're really in a trading range, drifting sideways for the time being as the market waits for its next catalyst.
Matt Ruane
Bush's comments provided some short-term comfort. But shortly after, we sold back down again.
Matt Ruane
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