We had such big gains yesterday that it is not unusual for us to consolidate a little bit. Then, oil's down but gasoline is up and that is counterbalancing each other, ... The economic news we had this morning was less than inspiring.
More Quotes from Tom Schrader:
All of those numbers will be looked at, but the biggest number tomorrow will be the sentiment index.Tom Schrader
I think the rally got started by news of the super-secret meeting with the Iraqi military this morning and just kept going from there. Everybody loves equities and the dollar today and everything else is down.
Tom Schrader
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.
Tom Schrader
Intel and a Barron's online article about slower PC sales hit the techs in the morning, but I don't think they said anything that hasn't been said or hinted at recently.
Tom Schrader
We've got some weighty numbers tomorrow, with consumer sentiment and Chicago PMI due.
Tom Schrader
We've kind of stalled here. Basically we've seen some profit-taking based on the gains we've had since mid-October.
Tom Schrader
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