Until we get clear signs of a corporate recovery, the market is going to remain is this tight trading range.
More Quotes from 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
The Fed is close to finished with raising rates. Inflation in the U.S. is moderate.
Subodh Kumar
Cost cutting has improved operating margins, and earnings have come in above consensus. The strong companies are getting stronger.
Subodh Kumar
If you put together a ruling in favor of one of the largest industrial sectors in the U.S. and positive news on large companies, such as GM, it's not a surprise to see the market up today.
Subodh Kumar
Sooner or later it will be appropriate for the Fed to pause, regardless of whether or not we get a signal in that direction. There is no reason for them to invert the yield curve. Inflation is contained and the economy is okay. I don't see a reason for them to take the risk of keeping raising rates.
Subodh Kumar
You do have a diverse group of stocks moving upward compared to a narrow leadership.
Subodh Kumar
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