Kate Warne Basically Quotations

Clearly, the people who are buying growth stocks are saying the good news from a series of interest rates in the U.S. and Canada will mean inflation remains under control. The overall sentiment today was basically optimistic.

The fast-growing small technology companies basically ignored the Fed's warning of higher interest rates.

But beyond that, when you look at the pattern of trades for the day, it was basically positive but sort of lackluster. I think everybody's waiting around to see what happens next week and nobody wants to move a lot in front of the Fed meeting on Tuesday.

Basically what we're seeing is stocks that reported expected or better than expected first-quarter earnings have moved up, while any company that has really disappointed has gotten slammed. The market is looking for direction.

It was basically not a good day for the tech stocks in general and that's the main reason why we saw the 144-point drop.