For the market to head higher, investors need to have confidence that oil prices will stabilize and move below 40 a barrel. If oil stays at current levels, the market will be tentative at best.
More Quotes from Subodh Kumar:
Market players are very reluctant to make strong commitments until they get signals that operating earnings are starting to improve.Subodh Kumar
The main focus today is the Fed. After the decision, investors will once again focus on the fundamentals of the U.S. economy and on company earnings.
Subodh Kumar
What they're looking at is the rate increases by the Fed, and probably the other central banks, should result in somewhat slower inflation pressures and slower consumer growth in the U.S., which markets would like to see.
Subodh Kumar
Cost cutting has improved operating margins, and earnings have come in above consensus. The strong companies are getting stronger.
Subodh Kumar
You do have a diverse group of stocks moving upward compared to a narrow leadership.
Subodh Kumar
I think we're in a situation where some earnings will miss (forecasts), but not as much as some bearish people expect, ... If this is the case, the SP 500 is likely to remain in the trading range it's been in.
Subodh Kumar
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