Art Hogan
Art Hogan
direction downward headed lower push stocks
It doesn't take much to push stocks lower in this market, ... Stocks have been headed in a downward direction for a while.
broader compared concerned economy economy-and-economics half investors lows market process second surprise test
It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.
afternoon found low months rhetoric suggesting thursday weekend weeks
We'll probably get some rhetoric over the weekend suggesting we've found the bottom, ... I think weeks or months from now we'll look back and say (last) Thursday afternoon was the low point.
companies dependent dragging drivers lower main oil price
One of the main drivers for the Dow and S&P has been the price of oil; that's been dragging on the companies that are especially dependent on lower oil prices,
bargain friday hunters low volume
When you have a low volume Friday selloff, you'll sometimes see the bargain hunters come back in Monday.
bought focus folks low money news rumor selling shift starting victory
We bought on the rumor and are selling on the news, ... We've priced in the victory here. There's very low participation -- there's just no money in the game. Folks are starting to shift focus now.
basis current data lower points signs terrific trend
I think the Fed's going to lower by 25 basis points and I think the trend is going to show stabilization and a pick-up in growth. The current data is not going to look terrific but there will be signs of stabilization.
clearly effect equity exaggerate low strange summer tends vacation volumes
I think we're clearly in summer vacation mode, so we're going to have low volumes -- which has a strange effect on equity valuations and tends to exaggerate moves,
low next players sleepy volumes
There are sleepy volumes and low participation. There are no players around. Next week, unfortunately, is going to be the same.
confidence consumers continue created high interest lower money rates remain retail spending stayed stores
The retail stores are doing well. Consumers remain confident, continue to be out there spending their money, ... A lot of money was created with lower interest rates and refinancing -- things of that nature. So, consumer confidence has stayed very high and retail stores, that have actually done it right, have been doing pretty well.
broader compared concerned data economy half investors lows market process second sector services surprise terms test
In terms of the thought process on the economy, today's ISM data on the services sector didn't help. It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.
certainly expected happen last points thousand
We expected it to happen by the end of the year, certainly not in the first quarter. The last thousand points have really been at breakneck speed.
calling focus forward great growth intensive looking news people period question revenue robust week
We're going through a very news intensive period this week and the focus of all of that is slowdown of revenue growth going forward, but we're probably overreacting, ... We get great numbers, but looking forward we don't have the robust growth -- so people are calling into question valuations.
consensus helps overall quarter season second upbeat
The season started upbeat and that was terrific. That helps the overall consensus that the second quarter (reports) will be rosier.