Hopes for a good report on consumer confidence today is helping stock futures this morning. Any signs of higher confidence, which turn into higher spending, will be supportive to the markets.
More Quotes from Paul Mendelsohn:
We're trying to get a little rally going short-term, but today was a bit nerve-wracking.Paul Mendelsohn
With lower-than-expected growth, it makes the job a lot easier for the Fed -- especially with its two new Bush-appointed members -- to pause from its rate-hiking plan.
Paul Mendelsohn
We saw a breakdown in financial stocks today. Banking stocks ran into some selling as we tried to push higher. We also had a pullback from the earlier rally in the technology, semiconductors and oil stocks.
Paul Mendelsohn
The PPI is important because it's the first piece of real inflation data of the year. And while the PPI has been rising, the CPI has not been keeping pace. Corporate America must be getting squeezed in the middle.
Paul Mendelsohn
With expectations for the third quarter already built in, money managers have begun selling on the news and taking money off the table.
Paul Mendelsohn
There's been a lot of selling in the blue-chip area over the last two weeks, with a rotation into high tech, and that seems to be continuing today.
Paul Mendelsohn
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Our Father and Our God, unto thee, O Lord we lift our souls.
William Pennington
I just think that we're capable of so much more; we don't utilize all our capacity like we should.
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