Donald Selkin Reaction Quotations

You're seeing a knee-jerk reaction to the tremendous gain in energy prices. It's also a reaction to the contrived gain on Friday.

The big hurdles next week are the Fed meeting Tuesday and the jobs report Friday. The market reaction to those events may set the tone for the month and determine whether we'll see a November rally.

With earnings winding down and not as much to focus on, you're getting very volatile reactions to economic numbers that are actually pretty close to estimates. You're also seeing some of the defensive names that are dependent on an economic recovery trading lower.

It's such a knee-jerk reaction. I don't think that what the Fed said justifies the kind of reaction we saw. I would like to think that we could rally back after the certification is completed tomorrow, but I don't know. I am just stunned by the extent of this decline. Hopefully, it was a one-time reaction.