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.
More Quotes from 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 market's been getting positive news from GM, oil and semiconductors. But we have the quadruple witching to contend with, which could lead to a lot of volatility, so even though we're up now, we could open anywhere.
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
So far all of the news coming into the market today is negative.
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
We're trying to get a little rally going short-term, but today was a bit nerve-wracking.
Paul Mendelsohn
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