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.
More Quotes from Paul Mendelsohn:
The big problem for the market has been the news flow. Energy prices continue to rise, gold prices continue to go up and earnings are coming in very mixed.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
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 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
When oil moved up near 70 a barrel last time, it really stalled things. We're seeing those fears of a similar impact creeping again. With oil higher, there are fears of what future CPI and PPI numbers will look like.
Paul Mendelsohn
This morning we're being dominated by two factors -- positive news across the pond and a little bounce off of yesterday's sharp sell-off.
Paul Mendelsohn
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