If Cisco can start to bring their business around and have a good report after not doing very much of anything for the last year and a half or so, I think that just brings a better feeling to a bit of an oversold market. The Pepsi report helped a little bit and McDonald's sales performance.
More Quotes from Robert Pavlik:
The market is still feeling good after the Federal Reserve minutes yesterday. Between now and the end of the week, we have a lot of economic data coming out.Robert Pavlik
There was some profit-taking today as there was a lack of catalysts to get buyers to step in. Buyers are waiting for the market to be a little more attractive. There's not much in way of economic reports for the rest of the week. Geopolitical concerns, the price of oil and earnings reports will be driving us.
Robert Pavlik
If we get a GDP or deflator number that's much stronger than the consensus estimate, then it could hurt the market because people will be talking about a tougher Fed.
Robert Pavlik
We were still digesting the news from Friday as well as coming to grips with higher yields and oil prices today. We had very muted action today. The lack of volume was evident ahead of the start of the earnings season.
Robert Pavlik
This is a volatile report, yet it garners attention because it provides insight as to how the consumer feels, which is all-important right now. A low reading due to higher oil prices may negatively impact retailers.
Robert Pavlik
Also some of today's selling pressure is a result of a very quiet market, with many professional investors taking the final trading of 2005 as a holiday, combined with some last minute cleaning up of portfolios by those investment managers who have made it in today.
Robert Pavlik
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