We're getting a moderation in bond yields, and energy prices came down today. We're looking at things more favorably than this morning. There's still residual analysis about the Federal Reserve, and we're seeing some gamesmanship heading into next week's meeting, debating how more hikes we have.
More Quotes from Paul Nolte:
On a year-over-year basis, the inflation figures are not anything to be concerned about.Paul Nolte
Those that are left to trade seem to be going through the motions until year-end. The economic news today was expected based on last week's CPI number, so it was no surprise and couldn't sustain us until the end of the session.
Paul Nolte
The important decisions haven't been made yet. You get the impression that there's not much really moving and ask yourself whether the optimism is really justified.
Paul Nolte
Already the futures markets are pricing in another rate hike and talk about a 5.0-plus fed funds rate is making the rounds. The currently inverted yield curve may also be a signal to the Fed that the economic growth of the past couple of years may be waning and any added tightening may be like kicking a good man while he is down.
Paul Nolte
We ran out of gas after yesterday's large advance. We only had earnings news from a couple companies today, and that couldn't carry us.
Paul Nolte
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Based on Topics: Moderation & Temperance Quotes, Morning QuotesBased on Keywords: favorably, gamesmanship, hikes, residual
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