Today's economic data was really good. Right now, it looks like the Fed would raise rates in March. Some of the banks that have been suffering as of late, due to the flattening yield curve, should get some help.
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The whole reason we've been doing so well is that we thought there would be only one more rate hike and then they would pause.Neil Massa
It's all about energy today. A rise in inventories may send oil prices lower, and in turn, help stocks.
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Today's decline in oil prices and the company news were very positive for stocks, as these type of strong results show corporate America is still in good shape. But trading is coming to a bit of a halt before the Fed. The interest-rate outlook can't be ignored.
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The confidence number has taken the market off its highs.
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The Santa Claus rally hasn't happened yet, and by now investors are fearing that it won't. There's disappointment all around.
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