In Europe, oil and commodity stocks were higher again and that seems to be the theme with crude oil above 74 this morning... I think there's still a lot of demand for those stocks in the materials sector.
More Quotes from Paul Mendelsohn:
The market is still being buoyed by the energy sector. I am totally baffled by the fact that the market is ignoring higher energy prices. But at some time, higher energy prices will have an impact.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
Most traders will really be positioning for the October employment report. Economists are expecting that non-farm payrolls rose by approximately 50,000 during the month, providing evidence that with two straight months of employment growth, the jobs picture is finally turning around.
Paul Mendelsohn
There's a lot going on next week. There's the OPEC and G8 meetings this weekend, and a bunch of economic reports that the market is going to be watching carefully.
Paul Mendelsohn
There's a lot of information coming out next week, a lot on the economic side.
Paul Mendelsohn
We're at pretty high levels on the indexes, there's a lot of economic news coming out over the next few days, and Friday is a quadruple witching day, all of which is adding to the volatility and the pullback.
Paul Mendelsohn
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