Michael Sheldon
Michael Sheldon
Michael Sheldonis a former Australian rules footballer who played with Essendon in the Victorian Football League...
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Stock prices moved lower for most of the day, but closed off their lows after oil prices retreated. All in all, there was a lot of hesitation before the earnings by the two tech bellwethers.
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Oil prices in the morning would've been the biggest story, but by the close the market's incredible resilience is what investors are left with, ... It's a contrast to how the markets ended yesterday. I think so far higher oil prices have not had a major impact. There are a lot of positives driving the consumer and the stock market.
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The mood of the market has clearly improved in recent weeks and this most likely reflects optimism that the Fed is close to the end of its recent rate tightening cycle.
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I think the results from AMD and Apple after the close should help boost sentiment toward technology stocks, which have been on a bit of a roll for a few weeks,
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When all was said and done, the market showed its resilience once again, ... The market performed well despite today's extremely weak consumer sentiment number. Investors seem to be looking over a softer economy for the next few months towards a stronger economy to start 2006.
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Earnings for the fourth quarter have generally met or exceeded expectations. We've seen solid reports from a number of different industries, with strength not just in energy, as in previous quarters in 2005.
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February has historically been a lackluster month for the stock market. Despite many positive corporate earnings reports, investors should be prepared for some choppy or sideways trading over the near term.
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February has historically been a lackluster month for the stock market.
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The technical trends of the market and the sentiment has improved over the last few weeks, plus there are seasonal factors working in the market's favor.
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Texas Instruments' numbers were broadly in line with estimates, but there may have been some disappointment that they didn't raise the high end of the range.
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Temporarily, the market may have run out of gas. On a technical basis, we're looking overextended, so you're seeing a little profit taking,
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As the day progresses, oil prices have started to dominate trading and lead to weakness in the market.
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At the moment, I'm cautiously positive about the market, recognizing though that as we go through the year, the economy and corporate profits are likely to slow.
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The tone in the market is a little better. We saw strong gains in Japan as they move toward an end to quantitative easing.