It will be one of those days where we wait and see and hope and pray that tomorrow's CPI data will not be taken with too much negativity,
More Quotes from Ned Riley:
The worst point of the tech cycle is probably upon us now, but the actual results and the commentary on earnings are no surprise. There's a selling exhaustion in regards to tech stocks. People are trying to focus on the road ahead. Looking forward there is a lot of upside potential.Ned Riley
I clearly think this is just another manifestation of a recovery that continues to be underestimated by the Wall Street community. Not only Cisco, but the whole tech sector has blown away estimates. I would be truly surprised if the market doesn't have strong futures and a positive start Thursday.
Ned Riley
Unfortunately, the market has taken a 'shoot now, analyze later' attitude. These companies are guilty until proven innocent, and they need to come up with confessions or disclosures that prove there's nothing questionable.
Ned Riley
I think we'll probably get a brighter picture on retail sales for Christmas, which could (inspire) people a little bit and help the short term.
Ned Riley
Overall, a great inflation report. This again confirms interest rates should be declining over the next six months and should send the message to the Fed that it need not worry about long-term inflation.
Ned Riley
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