Art Hogan Market Quotations

We're seeing better earnings news in corporate America. That's what the market is celebrating, ... We made major collateral damage to stocks in the last six weeks and over a larger 2-1/2-year period. What's happening now is that the market is bottoming out and is building a higher support base in the process.

We have to get used to the fact that the emergency level of the fed funds rate is behind us, ... The sooner we become cognizant of the fact that the global economy won't be crushed and corporate earnings won't roll over, the sooner the market will fight its way to trend higher.

We've seen some really good stuff and some really rough stuff, ... The market has worked its way through a bottom, at least on the Nasdaq and S&P. Money is rotating, so that means it's staying in the market and that's good news.

Next week we really kick that (warnings) season off. There's going to be more Gateways out there, and that's not going to help. People will make the argument that a lot of that bad news has been priced into the market already, but it certainly wasn't yesterday.

Historically, the market has tried to move four months ahead of an economic recovery.

I think the market will continue to drift without any real direction until we get Friday's employment report and investors get a sense of the current economic outlook.

I think the market has discounted a lot of the bad second-quarter chatter we're going to hear, and my guess is that conference calls going forward are going to be much more positive,

I think the fact that we had this awful bombing ... and yet the market seems to be moving on, that it's starting to become sort of priced into the marketplace. We may get investors to get back in off the sidelines at some juncture as we start to get earnings reports for the quarter.

I think we'll see the stock market trying to price that (rate cuts) in the second quarter.

I think this market can hold on to this rally and start trending higher.

I think the semiconductors and the Nasdaq had sold off a little more than the rest of the market recently, so you're seeing them gain, ... But basically we're all waiting for everything that happens next week.

I think there's a lot of things going on, ... We had some good news from companies like Oracle, great economic data this morning, and you had the market clear two key psychological hurdles recently -- the Dow passing 10,000 and the capture of Saddam Hussein. All of that brings buyers back in for the short term.

People are bid up the market by the close to get ahead of the Fed on the hope of a 'Fed bounce' tomorrow (Tuesday), ... We're still well within the time frame of the Fed's monetary policy stimulating the economy, but people are just tired of waiting for it.

It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.

We need some capitulation in the economy and if we get any sort of turnaround in the economy we can turn this market around on the Nasdaq. We're clearly in a market searching for a bottom.

Today we had some positive economic data and we came into the market oversold, ... I don't think we've fixed the oversold position -- I think we're still cheap. Tomorrow there will be some focus on factory orders and Cisco earnings.

Today was one of the days where everything was negative. The market did hold in there pretty well, though. We're finishing up the week showing how much volatility we should expect over the next few weeks. We should be pleased we ended up where we did because it could've been a lot worse.

This was a nice way to start off the new year. A lot of this was driven by the fact that the Fed confirmed that end is in sight. We've held onto the belief that when the Fed ends that stock prices will go up. We'll still have rate hikes but the market is celebrating that we'll see an ending sooner than later.

When the Dow was doing its swan song yesterday (Thursday), the money was staying in the market and rotating into tech, ... That's the first time that's happened this year and that's good news -- folks are changing their minds about the sectors but they're staying in the market.

Fifty-two percent of the households in America are invested in the U.S. stock market and they want to invest in the things that had 70 percent growth last year, ... As long as the money keeps flowing into equity mutual funds and they are targeted toward Nasdaq stocks, we are going to see this go on for a while.

We've had a lot of bad news today -- the economic data, Cigna and the insurance sector is doing poorly, a bunch of companies missing estimates or warning -- but this is a market that really doesn't want to sell off,

During earnings, we're often in a trading range, and I think we still are right now. We've got 100 members of the S&P reporting this week, a lot of economic news and the Fed tomorrow, so for the market to go sideways a bit is not a bad thing.

The second quarter is lining up to be another good quarter but people are looking ahead to the third and fourth quarters. Barring any major upsets on the earnings calendar I'd say the market is pretty range bound.

This may be a very volatile trading session. The market wants good numbers, but an exceedingly good report may lead to further rates increases, and that's not good for stocks. On the other hand, a bad report on top of disappointing earnings, could spark another sell-off.

It's going to have a lot of volatility in the market place.

Not to be heartless, but this is very good for Wall Street, ... And I think that is why we are seeing this market take off in the early going.

The Fed will take the rising price of oil into consideration when it meets, ... The market is still pricing in a rate hike at the end of June, but the question becomes what happens if oil stays above $42 a barrel.

I'm not sure how judicious it is, but the market looks like it will move energy to the side stage, while rate hikes and the Federal Open Market Committee again take center stage.

Investors feel that the Fed's action on Tuesday, May 16, has been priced into the market and it's safe to get back into the water,

In terms of the thought process on the economy, today's ISM data on the services sector didn't help. It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.

I don't we're seeing we see the collateral damage to broader market that we did in the fourth quarter,

The market got whacked for no good reason on Friday.

The equity market is a very forward pricing mechanism, ... I think what's going to happen to Microsoft happened over the past few weeks. The damage has been priced in.

All of the news we got today was negative and the market was defying it ... the news was atrocious today,

The market was up 5 percent and then the Fed gave us this gift.

The market has been able to stomach a lot of bad news -- we've seen disasters every day and the market has trended higher, ... This is day four, so it's only natural to want to take profits.

The market is keeping in lockstep with energy prices, ... As we get a better handle on the short-term and long-term impact of high energy prices, the market is able to rationalize a bit better.

The market is going to shrug that off. We spent so much time pricing in so much bad news, we can actually move on now.