We're likely to see a correction this year after the run we've had, as well. But the outlook for third and fourth quarter earnings has been good, and if the economic data continue to improve, we could see a slightly more narrow decline that what people have been expecting.
The news from Cisco was disappointing for tech investors. The longer-term outlook was positive, but shorter term there were a few items in the report that unsettled.
Everyone expects the Fed to raise (a quarter point) and everyone wants to see if there is a change in the outlook that gives hints about future meetings.