If they feel like the consumer is losing his strength and his spending power in the market, and he's going to be putting more money into savings, that's going to make the market nervous.
More Quotes from Tim Heekin:
All of the numbers this week are potentially market moving. I think people will be watching the numbers for hints about inflation.Tim Heekin
There's a good tone to the market. We're moving towards some key technical levels, particularly with the SP 500. I think that if we can hold and then break through them, we could go higher.
Tim Heekin
It's been pretty quiet all week, volumes have come down...You have pretty significantly reduced volume here in August, ... This morning there was nothing to really move the dial on PPI or jobless claims.
Tim Heekin
This movement in the bond market is amazing, truly unprecedented. People are starting to sell fixed-income and put that money into stocks. Equity is starting to look like this undervalued dark horse worth betting on.
Tim Heekin
They had an opportunity to get tech really rocking if they said something positive, but instead, they guided lower.
Tim Heekin
We have no economic numbers Monday and my sense is that the market is going to keep consolidating for the next few sessions, before we make a bottom and then build from there
Tim Heekin
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