Ned Riley
Ned Riley
companies far financial high interest rates reporting seen stocks tech
I think the story is going to be the same going forward. We're going to see the tech companies reporting well. But the high interest rates we've seen so far have undermined some of the financial stocks and drug stocks.
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Overall, a great inflation report. This again confirms interest rates should be declining over the next six months and should send the message to the Fed that it need not worry about long-term inflation.
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The Fed is still maintaining its supportive stance. They are not going to raise rates until the economy begins to generate more jobs.
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This is an opportunity, ... You can find some health care stocks with price- earnings ratios, ironically, more cheap than they are in the cyclical area. The health care group of stocks that I like sell about 28 times earnings and have growth rates of 14 percent.
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I do think we're searching for a bottom on the Nasdaq and the action looks good so far. I see a lot of stocks doing well and people are going bottom fishing. Interest rates matter and clearly the Federal Reserve needs to focus on the Nasdaq.
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I do think that there are a group of investors that have changed their opinion about interest rates and that is extremely positive for the market. We clearly do better in a falling interest rate environment.
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There has been a dearth of negative news, which to the market has to be a sign of good news.
below fall higher investors market oil prices start work
We're nearing an inflection point. I think the market will start to work higher as investors become more comfortable with higher oil prices -- particularly if oil can fall below $50 -- and after the presidential election.
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We're just beginning to see justification for the market's rise, with the earnings that have already come in. The next test comes tomorrow, with the banks. People will be looking to see if loan demand in the economy has picked up.
appears consumer happened report retail sales spending today
What really happened today is the retail sales report set the right tone, ... It appears that consumer spending is down.
tech win
You had to be in tech to win in this period.
commentary companies negative prepared second warn
Be prepared for a continuation of negative commentary by companies as they warn about the second quarter.
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Today we're in the bottom- fishing mode and there are a lot of people who think the tech correction is complete and we've established our lows for this cycle.
banks basically bit comments continue created financial market moving stocks took treasury
What unnerved the market the most and will continue to keep moving it was Greenspan's comments about the treasury market, ... The comments basically took a lot of financial stocks off guard, all the banks and brokers. That paired with PPI created a bit of a panic.