I think the issue that dominated today was the Wal-Mart announcement, because it made investors wonder if we're going through another slowdown, ... That certainly weighed on stocks.
More Quotes from Paul Mendelsohn:
Intel is going to have to have a very, very good report, or we could see more selling in that sector.Paul Mendelsohn
The market's been getting positive news from GM, oil and semiconductors. But we have the quadruple witching to contend with, which could lead to a lot of volatility, so even though we're up now, we could open anywhere.
Paul Mendelsohn
While that's a significant number, I believe that the consumer-confidence numbers are more significant. I'd be much more interested to see what the September numbers will be, so we can see what the damages on the economy from the hurricanes will be.
Paul Mendelsohn
It's interesting to see gold prices so high, it is certainly something traders will be paying some attention to.
Paul Mendelsohn
Imports rose to a record 177.2 billion, while exports also increased, to a record 111.5 billion. This creates a higher probability that the advance fourth-quarter gross domestic product will not be upgraded substantially higher, since a higher trade deficit subtracts from GDP.
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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