Oil still remains the big uncertainty out there for the market, ... I think the attack in Saudi Arabia and worries about Friday's OPEC meeting are unsettling financial markets.
More Quotes from Timothy Ghriskey:
We've had some not-great earnings news, such as GM. But to us, the biggest issue remains oil. Crude up at these levels is a concern for the consumer and for corporations on a global level.Timothy Ghriskey
I like the rally today and the volume is good, but we still have a lot of economic reports to get through the rest of the week that could either undermine it or strengthen it.
Timothy Ghriskey
What our economist thinks at this point is that we have probably seen the last of interest rate hikes by the Fed, which could be a positive thing for the transportation sector,
Timothy Ghriskey
(We like) stocks with a moderately high dividend give that stock support. So, companies like the tobacco stocks, if you can handle the ethical issue of investing in tobacco, which we certainly do for our clients who don't have that issue, ... These are high dividend stocks. The dividend is very secure. That's a great strategy. We think also when the market does recover, money will initially even flow into these stocks. Because on a relative basis, say a Philip Morris with a 5.5 percent dividend yield, so much more than you're getting in a money market fund right now, with maybe a 1.5 dividend yield. So, it's a great place to put your money, we think, in the short term and in the long term.
Timothy Ghriskey
The brokerage earnings are by far the toughest to predict, because so much depends on how their internal investment performance was.
Timothy Ghriskey
We do have the wind of the Fed at our back. At some point this downturn we're in levels out.
Timothy Ghriskey
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