The Iraq news definitely was a positive. This morning, people were fearful of the ISM data, which came mostly in line. So stocks tracked higher on these developments.
More Quotes from Tony Dwyer:
Nothing for the time being suggests more than a moderate pace of rate hikes. There is a bit if nervousness out there. The other thing is that the market has had a good run and this is a normal pullback with a little bit of profit taking going on.Tony Dwyer
It's really a continuation of the selling that we saw last week. Sentiment was negative going into yesterday, so a lot of people are using the strength in yesterday's prices to cut losses.
Tony Dwyer
The Dec. 8 deadline -- it's a geopolitical concern.
Tony Dwyer
That's just a reaction to four down weeks. You've got more factors to worry about now. Even if there's a war and it goes well, now you have far-reaching implications.
Tony Dwyer
I think we are headed higher over time. I think people should use any pullback as a buying opportunity.
Tony Dwyer
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