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.
More Quotes from Robert Pavlik:
People are looking for a Santa Claus rally, but I don't expect it's coming. The only real positive I saw today was some of the economic data. It's been a hard day to get excited about. We've seen some individual names get action, but nothing is carrying over.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
The durable goods number will matter more to industrial stocks like Boeing and Caterpillar. People want to see if the growth in this sector is continuing, but they don't want it growing so fast that it will scare the Fed.
Robert Pavlik
People are pretty positive ahead of the first-quarter earnings season. There haven't been very many negative pre-announcements.
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
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