Larry Peruzzi
Larry Peruzzi
basically bit continues key lower resistance row second slightly unchanged
We're slightly lower to unchanged basically for the second day in a row after a little bit of a rally. That 11,000 continues to be a key resistance area.
lately volatility
What we're having lately is a lot of volatility in the market. There's a fixation with the Fed.
companies demand helped late lift outlook remains sector shares stock strong technology
The outlook for technology companies remains strong and demand for shares in the sector helped lift stock indexes late this afternoon.
closer
We're closer to US$80 (a barrel) than to US$70, and that's kind of discouraging.
banks beginning confidence consumers higher impact less means oil prices retailers seeing shares spending wonder
Consumers are beginning to feel the impact of higher oil prices in their pockets. Less confidence means less spending and no wonder we have been seeing shares of retailers and banks faltering.
bigger closer definitely noticeable
It's definitely oil. We're closer to $80 (a barrel) than to $70, and that's kind of discouraging. The bigger it gets, the more noticeable it is.
bond brought highest seven trading yields
Bond yields are trading at their highest in seven months, and that's brought back some inflationary concerns.
fed feeling further hikes market rate react waiting
Boy, we've been waiting for this. The feeling is that the market does not need further rate hikes and that the Fed will react accordingly.
bring buy buying coming helped names programs saw technology widespread
We saw some buy programs coming into the technology names. It was widespread buying into the small-cap names that had been lagging all through the day, and that helped bring things back.
buy coming programs saw technology
We saw some buy programs coming into the technology names.
broken concerns continue earnings entirely good looking momentum pattern people sell somewhat sustain
This morning, we were able to sustain momentum somewhat off of some good earnings reports. But the pattern still hasn't broken entirely that people are looking to sell into the rallies. The concerns continue to be inflationary.
looking market past tends
This morning, the market tends to be looking past that a little bit.
came closely factor line number positive rate watched
It's a number kind of closely watched by the Fed. It's a big factor in the rate decision-making, so the fact that it came in line is a positive trend.
performer shock stellar territory
It's more of a shock factor. It's been a stellar performer and a leader. This is kind of new territory for them being this cautious.