Investors appear to be taking profits in the technology, energy and materials sectors. In addition, financial stocks could come under pressure as rising yields on intermediate-term Treasuries begin to have a negative impact on the mortgage market and credit card debt.
More Quotes from 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
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
Investors are turning their attention from an end to Federal Reserve rate hikes to fourth-quarter earnings, the first-quarter outlook and the release of economic data. Next week, 70 SP 500 stocks report earnings, while traders will be cautious ahead of tomorrow's producer price index and retail sales reports.
Paul Mendelsohn
We're trying to get a little rally going short-term, but today was a bit nerve-wracking.
Paul Mendelsohn
One of the recent themes has been the falling dollar, higher materials and commodities. If that is reversing, you could see a rotation out of materials and commodities. At the same time, oils are getting hit by falling crude prices.
Paul Mendelsohn
There's a lot of information coming out next week, a lot on the economic side.
Paul Mendelsohn
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Based on Topics: Computers & Technology Quotes, Debts Quotes, Energy Quotes, Finance QuotesBased on Keywords: intermediate-term, treasuries
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