The market has been miserable of late, so it's not surprising that we're seeing a little bounce now, aided by the three economic reports. The economic news isn't great, but it's not awful, so that helps.
More Quotes from Michelle Clayman:
GDP numbers could surprise a little to the upside, and that may be why the Fed said what it did, ... Confidence numbers could also be surprising, in light of recent reports.Michelle Clayman
You've clearly got some selling on the news, ... Microsoft wasn't bad at all, but it wasn't as bullish as some people were hoping.
Michelle Clayman
We're also still getting support from the low interest rates. While Treasury yields are not as low today as they've been, they are still historically at a substantial low, and that lends support to equities.
Michelle Clayman
There are still concerns that profits will slow considerably, and that will hit stocks. But I think there are a number of stocks that are just oversold at these levels.
Michelle Clayman
You have a number of issues, not the least of which is the upcoming Fourth of July holiday.
Michelle Clayman
People are looking for a pretty good earnings pick-up in the second half of the year. The rate cuts are certainly going to kick in.
Michelle Clayman
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