The fear that's out there is forward looking, with people worrying about inflation and what the Federal Reserve might do in the months ahead. So the numbers next week won't help, although we do get a lot of earnings, which is good.
More Quotes from Timothy Ghriskey:
Overall, the issue for the market right now is oil. Today it seems to be about the events in Nigeria, but with oil it's been just one issue after another lately.Timothy Ghriskey
Ford Motor warned Friday and that type of news is pressuring stocks,
Timothy Ghriskey
The most important read this week is the first look at GDP growth in the second quarter, ... A number of companies, including GE recently, have talked about April and May being tough, but conditions picking up in June, particularly the second half, and the GDP number will likely reflect that.
Timothy Ghriskey
The main thing is the economic news looks like its steadily improving and that should continue to help stocks.
Timothy Ghriskey
We're into a bit of the summer doldrums. There have been a lot of positive earnings surprises, but the anticipation of that has lifted markets for months, with little proof that the economy is improving enough to justify those earnings. So the mood is more upbeat, but that hasn't translated to higher stock prices.
Timothy Ghriskey
We're seeing volume but no volatility in prices. And I think that just shows you that a lot of people are away and people are not making major moves. But next week, when everyone comes back from the Labor Day weekend it tends to be a big week and they really put the foot to accelerator and go, go, go.
Timothy Ghriskey
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