Michael Sheldon
Michael Sheldon
Michael Sheldonis a former Australian rules footballer who played with Essendon in the Victorian Football League...
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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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When the central bank came out and said they're going to drain liquidity over a period of months, that was a catalyst for investors who have avoided the stock market to put some money back in.
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Given that tech companies are already trading at pretty high valuations, these companies' earnings are going to have to really deliver for the stock prices to show a substantial reaction.
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My sense is we continue to see this correction over the next few weeks, but I think once we get through this period and some of the March data starts to come out, stocks will move higher.
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Looks like the stock market has gotten off on positive footing after yesterday's broad-based decline. We're seeing gains in eight of 10 S&P sectors. The data that came out so far was pretty much in line with expectations. Looking ahead, investors will be keeping an eye on auto sales.
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The bond market finally caught up with the stock market.
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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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Over the next few trading sessions, it will be important to watch whether the stock market sells off on rising volume. If that should happen, that could mean a spring correction is on the way.
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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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Historically, the three-month period before the Fed goes on hold in the rate hiking cycle, stocks have performed well and that carries on for the next 12 months,
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All three major tech stocks that reported after the bell yesterday beat estimates and raised guidance, and were certainly a positive shot in the arm for tech investors.
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All in all, I think investors are trying to put on a positive face and push stocks higher into the year-end. I think the market is going to try to build on yesterday's modest gains.
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The markets so far have been unable to build on yesterday's gains, and right now are being held hostage by the bond market. But we are seeing some strength in semiconductors, energy stocks and some of the metals companies.