So far all of the news coming into the market today is negative.
More Quotes from Paul Mendelsohn:
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.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
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
The major problem weighing here this morning is Dell, ... They missed revenue projections by a lot, and their earnings were also at the low end of the target, so that is reminding market participants that there may be a consumer slowdown taking place.
Paul Mendelsohn
The employment situation is always a market mover because it is one of the Fed's favorite indicators when it comes to designing their policy statement.
Paul Mendelsohn
The HP news is clearly positive, particularly for technology, ... and if nothing negative happens overnight, you could have a higher open. But we have CPI tomorrow, and that's a big unknown.
Paul Mendelsohn
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