Donald Selkin
Donald Selkin
close defensive dependent earnings economic focus names numbers reactions recovery seeing trading volatile
With earnings winding down and not as much to focus on, you're getting very volatile reactions to economic numbers that are actually pretty close to estimates. You're also seeing some of the defensive names that are dependent on an economic recovery trading lower.
consumer economic leading news reports rotation seeing stocks tech today
Today is very news driven. You've got GE, you've got HPQ, and the economic reports were a little better. It's the tech stocks that are leading the way. You're seeing a rotation out of the consumer stocks and into the techs.
felt low maybe news people rally rates seeing seemed sure
I'm not so sure that the rally was commensurate with the news out of the Fed. They seemed to say that they're going to keep rates low for a long time, which wasn't a surprise, but maybe people felt better seeing it spelled out more clearly.
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.
contrived energy gain reaction seeing tremendous
You're seeing a knee-jerk reaction to the tremendous gain in energy prices. It's also a reaction to the contrived gain on Friday.
bit earnings expectation good huge last run seeing stock year
All these earnings look pretty good. But after the huge stock run last year and the expectation of the good earnings, I think you're seeing a bit of that old 'sell the news' reaction.
investors ready risk shows tolerance
This shows that investors are ready to take on more of a tolerance for risk.
december early good higher november percent saw since
We saw a 2 or 3 percent pullback in early November and it has come back since then. What could take us higher in December is a good pre-announcement season.
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.
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.
asset bonds few followed gains last market moon people shift shots
We've had moon shots over the last few days, so this is natural. The market is digesting a lot of the gains it has made. The important thing is there is an asset allocation shift that has followed through from yesterday, with people getting out of bonds and into stocks.
brief days fed gone next nine response
We've gone up nine days in a row. I think we're probably in for a brief pullback next week, probably in response to the Fed statement.