Tom Schrader Quotes on Media & News (4 Quotes)

Last week was very busy and I think today there is less impetus to move. There's no earnings news, no economic news until later in the week, and so there's nothing really to move us.

It seems that GM put a damper on things with some negative comments, and the economic numbers were a little weaker. They are both putting an overhang on the IBM news, which was generally positive. This is one of the biggest earnings days we have -- and people are going to be focusing more on the guidance than they are the actual earnings.

A lot of the reason for the rally is that people think that everything's on the table. You saw a knee-jerk reaction this morning, with people selling on an initial reaction to the news, Europe being down so much and some weak earnings, like Kraft.

Friday's payrolls number is certainly the week's biggest news, and you may see some hesitation ahead of that.