The market does not seem to be worried about the long-term effects of the hurricane. It seems that we're seeing again today that the market really wants to move higher.
More Quotes from Sam Stovall:
The forecast from SP is near 18 percent growth in earnings in 1997 over 1996,Sam Stovall
Many say this much-needed digestion of gains is long overdue, as bull markets typically require a correction of more than 10 percent in order to allow the bull to maintain its upward tendencies.
Sam Stovall
If they don't do it tomorrow, they will likely do it in January.
Sam Stovall
December is one of the best months of the year for retailers. Of the past four years, retailers have beaten the market. Typically, everyone says the Christmas season is going to be horrible and they don't want to be in retailers, only to see December do very well for the market and even better for retailers.
Sam Stovall
We are really not sure if the economy is continuing to expand or continuing to contract,
Sam Stovall
An investor who was long the market from November to April, but then adopted a defensive approach by rotating into either the SP Consumer Staples or Health Care sectors during May through October, would have found ... that the returns were well worth the effort.
Sam Stovall
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