People will be looking for hints about the direction of the earnings throughout the week, ... both in terms of individual stocks and sectors.
More Quotes from Tim Heekin:
GM is such a bellwether, major company in the United States, and if they filed for bankruptcy, that just wouldn't be a good indication as to market conditions.Tim Heekin
People are looking for more clarity in terms of Iraq, interest rates, oil prices and the dollar.
Tim Heekin
It's pretty quiet today. We've got an FOMC meeting behind us, most of the earnings behind us, an employment number behind us. The next piece of economic news everyone will look at will be retail sales on Thursday.
Tim Heekin
This is the fourth day in a row where there's been disappointing economic news, and the market is reacting to that. People are also doing a little consolidating before the weekend.
Tim Heekin
It's the last week of August, people are on vacation and a lot of the big institutions in New York are half-staffed.
Tim Heekin
Action is being driven by the news of the day, namely Microsoft, Nortel, Qwest, ... The fact that we're hanging in there with so much negative news out there is good.
Tim Heekin
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