I think the next really big number for the market is next Friday's retail sales figures. Up until Friday, investors are going to be focused on oil prices, the earnings, and to an extent, the election.
More Quotes from Stephen Stanley:
There is sufficient upbeat news on the economy to convince the FOMC to tighten. If the economy warrants a rate hike, the Fed would be doing a great service by delivering.Stephen Stanley
It is definitely clear that (housing) is one area where you will see less growth,
Stephen Stanley
Today's report should convince most market participants that the March softness in the data was primarily a one-month phenomenon. Sounds like a recipe for continued 25 basis-point rate hikes for the foreseeable future.
Stephen Stanley
It is a little early to eulogize the housing sector. Look for any deterioration in starts, sales, etc., to be more gradual than the weather-depressed December starts tally would suggest.
Stephen Stanley
The indicators of prices ... are beginning to point more clearly toward inflation pressures.
Stephen Stanley
There's a game of chicken going on with traders wanting to go short but too afraid of month-end demand to risk it, ... Anyway, nobody wants to be short in a holiday week when anything might happen geopolitically.
Stephen Stanley
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