We did get surprising oil inventory data, but it's still below that 60 range. The market is running against options expirations, which are causing technical difficulty.
More Quotes from Peter Cardillo:
I just think they're very cheap. There's no core news for this to happen -- I just think a lot of these stocks have been badly beaten down and investors are starting to get around to looking at them.Peter Cardillo
The market has been saying all along that the recovery is strengthening. The retail and ISM Institute for Supply Management news today confirms that. Now with the Thanksgiving holiday out of the way and recent fears of terrorism on the back burner again, people have come back from the weekend ready to buy again. This is probably the start of the year-end rally.
Peter Cardillo
There's no question it's earnings-driven. The rally continues to move ahead but on a rotation basis. There are two things driving the market - earnings and economic data. Today's market seems more based on earnings than economic data.
Peter Cardillo
The fact that the Nasdaq breached 2000, an important psychological level, but managed to close above it several times now over the last week is a positive. But I think we're going to continue to see this consolidation for at least another week or so until more of the March economic reports start coming in.
Peter Cardillo
Last week, we encountered an ugly week for stocks as the market discounted higher interest rates,
Peter Cardillo
Obviously, we are not going to see some substantial gains, but I think we will be able to retrace some of these losses by the end of the week.
Peter Cardillo
Readers Who Like This Quotation Also Like:
Based on Topics: Obstacles QuotesBased on Keywords: expirations
I find it interesting that many of the people who want to restrict fossil fuels live in well-developed countries where abundant and affordable energy is readily available.
Lee R. Raymond
Lawyers are the only persons in whom ignorance of the law is not punished.
Jeremy Bentham
We fully support the strikes against terrorist targets, not against the country, not against the culture, not against a religion, but against an enemy of them all.
Ricardo Lagos