Donald Selkin
Donald Selkin
action averages situations special themselves though
Even though the averages themselves are doing nothing, there are some special situations going on here. There's a lot of action away from the averages.
decline hit last nice oil rise texas week
Between Texas Instruments, the rise in oil prices, and commodities, we got hit today. But the decline wasn't terrible. Last week we had nice gains, and today, we're kind of consolidating.
blair expected maybe perspective progress saying trying work
Blair is trying to put people's perspective in the right place. Maybe they expected too much in the first week. He's saying that we are making progress and we are going to try and work with the U.N., and that reassures people.
beginning came jobs michigan number
Didn't look like we were going to do much in the beginning because the jobs number came in lower-than-expected and the Michigan number also came in lower.
demand lower oil president prices relation says supply
This thing with the oil is nutty. Even the president of OPEC says prices should be $10 to $15 lower than they are. It has very little relation to the supply and demand statistics.
bias economic grind hugely likely next terms week
There's nothing much next week in terms of earnings, and not really hugely influential economic news, but the bias is still pretty positive, and I think we're likely to grind higher.
bit definitely feels tone
The tone (of the market) is definitely better than it's been in a while, and it feels like we could go a bit higher.
aversion technology volatile
Things are still very volatile and there's been an aversion to technology all day.
next reporting statement
The wording of the statement will be important, and then you've also got Cisco and Dell reporting next week.
almost classic earnings expecting market meet news seeing sell though
This is the classic 'buy the rumor, sell the news' reaction. The market is expecting the second-quarter earnings are going to meet or beat, so even though Yahoo! almost tripled its earnings, you're seeing some selling.
behind curve disconnect economy fed leading lower months people positive rates seems seen starting stock supposed talking
Normally, lower rates would be seen as a positive for stocks, but in this case, it seems like the Fed is behind the curve and the Fed is supposed to be leading us out of this. For months people have been talking about the disconnect between the economy and stock prices. Now it's starting to seem like that disconnect is narrowing.
consumer effect huge issue market oil sentiment
The oil issue is continuing. It has a huge effect on market sentiment and on consumer spending.
bit caution copper metals note
A slowdown in GDP could inject a note of caution in copper and the other metals. All of the metals are a down a little bit today.
bond holding market oil prices staying tough yields
Oil prices are staying up there, bond yields are rising, there are these tough headwinds out there, but the market is holding up.