The market has every reason to trade down, and so far I think it's showing some resilience,
He's using a good concept. The question becomes: Can you develop a market and will the public ultimately accept the use of this product in their homes and in their workplaces? It's still too early to tell.
The market had gotten pounded for a few days, and the Dow fell below 10,000 Monday, which still has some mental significance, ... So we're getting a nice bounce today.
I think the understanding is that he might admonish congress a bit on spending, but otherwise, he is unlikely to say anything that would ruffle the markets, ... He knows how the markets jump on his every word, so he'll be careful.
There's a tremendous amount of speculation in that market right now, and I think the weekly report came out and people just jumped on it,
With so few negative pre-announcements, many of the earnings should meet or exceed expectations, ... So it's what is in the forecasts that will determine the market direction.
I think it's pretty much built into the market the Fed will raise rates by 25 percentage points, ... If they don't, that may upset the market, particularly since some of the recent (economic) reports have been weaker.