So far the earnings season has gotten off to an underwhelming start. I think the positive news from Intel is just what the market needed and is likely to lead to a favorable opening on Wednesday.
More Quotes from Michael Sheldon:
Given the strong reports we've seen from many technology and industrial companies over the past several days, it's hard to make too much sense of today's GDP report.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
The primary reasons behind the back-to-back triple digit losses for the Dow are fears of a U.S. policy of protectionism against China and rising oil prices.
Michael Sheldon
Intel's news is going to hurt techs tomorrow. I think if the payroll numbers are disappointing, too, you're going to see a broader sell-off.
Michael Sheldon
The markets were able to build on yesterday's gains. Market breadth was encouraging.
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
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