Intel is going to have to have a very, very good report, or we could see more selling in that sector.
More Quotes from Paul Mendelsohn:
The market got what it wanted today, but now it has Friday's payrolls report ahead of it, a Federal Reserve meeting next week ahead of it. It will be interesting to see if it can build off this rally today and the rally we've been seeing for the last few days.Paul Mendelsohn
We're trying to get a little rally going short-term, but today was a bit nerve-wracking.
Paul Mendelsohn
Overall, the Intel mid-quarter update was quite bullish. I would suspect unless something major happens overnight you are looking at a higher opening based on the Intel news.
Paul Mendelsohn
The big question is whether the earnings growth is already built into the market, or can it help us move higher. It's very hard to answer that. Earnings should be the big driver of the market right now, but you seem to have this cross-current of events that are challenging that.
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
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