Looking ahead to next week, the more important question for investors will be 'Will the market experience a holiday hangover as investors take profits'.
More Quotes from Michael Sheldon:
The optimist would say we're in the early stage of a broad rally, the pessimist would say this is a dead-cat bounce and markets are going to head lower as oil heads toward 50 a barrel.Michael Sheldon
Today's weak market performance is the result of some worse-than-expected earnings reports and a decline in the consumer confidence report.
Michael Sheldon
When all was said and done, the market showed its resilience once again, ... The market performed well despite today's extremely weak consumer sentiment number. Investors seem to be looking over a softer economy for the next few months towards a stronger economy to start 2006.
Michael Sheldon
Despite terrorist events around the world, rising oil prices and a lukewarm job market, consumer spending has remained fairly strong, much better than many would have thought. But if the economic data starts to slow and oil rises above 60 a barrel, that could eat into consumer spending.
Michael Sheldon
It's going to be an interesting week for the markets with a slew of economic and corporate news on tap.
Michael Sheldon
I think the fact that Greenspan brought the issue of a declining dollar, global trade imbalances and protectionism to the forefront adds to the pressure today.
Michael Sheldon
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