The attention focuses on higher profile misses, and we had a couple early in the season. Since then we've had some good numbers.
More Quotes from Scott Wren:
Today's market action is driven by the slower GDP growth rate. Despite oil being higher, I think the GDP kind of overruled everything and just makes the market feel better about what the Fed is going to do, or rather not do.Scott Wren
There seems to be a lot of uncertainty about what the Fed is going to say. It seems a little early, given the meeting is next week, but I do think people are just waiting around for better news.
Scott Wren
Right now, anything that points to a slowdown in the economy and is less inflationary is good news, ... The market wants data that's modestly positive.
Scott Wren
Energy prices really have fallen to a distant second as far as concerns for the market. The big concern is whether the Federal Reserve is going to keep raising interest rates and, if they do, whether that's going to slow the economy too much.
Scott Wren
There's not a lot to trade off. You're going to see just some back and forth trading.
Scott Wren
It's ugly out there, but I don't think its going to get much worse going forward.
Scott Wren
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