I think it's good that thus far the market has been able to put back-to-back up days together and to hold on to those gains today.
I think there's a sense that with oil prices as high as they are, that's carrying over to the consumer, which you're seeing in the retail sales.
I think the record-high oil prices are still weighing on the market. Also, the Merck news is now spilling over to Pfizer, J&J and the blue chips.
I think the record-high oil prices are still weighing on the market, ... Also, the Merck news is now spilling over to Pfizer, J&J and the blue chips.
I think everyone thought there was going to be an election overhang and as a result of that, a lot of people had money sitting on the sidelines. The fourth quarter is generally pretty strong for stocks, and that proved true this year as well.
We've had pullbacks in the price over the last few months, and the prices have always rebounded, so there's some wariness. You need to see a more sustained decline in prices over a longer period of time.
The seasonality factor continues to play a big part in this market,
Oil continues to dominate trade, with crude at or near the highs. Worries remain about how high prices over the long term will impact consumer spending, the economy and interest rates.
You're seeing a modest extension of the gains of this week, with areas that saw some selling recently, like energy, sort of bouncing back.
I just don't see a whole lot out there that could push us a lot higher. The most positive thing we could see over the next few weeks would be for stocks to trade in a range.
The Cisco news isn't that significant, but maybe it's enough to influence people who were looking to get out. The S&P 500 had recently been right near its late December highs, so it's not too surprising to see this consolidation.
The market has had a respectable run-up since its January 24 lows, and today you're seeing some profit taking.
The market has had a nice run recently, and we're approaching a critical point on the S&P 500 in the 1,210 through 1,220 range.
The market is at or near the top of its trading range. So it would need to be a really strong (payrolls) number to get the market continued on its bullish ways. Right now, I just don't think that pattern is going to happen.
The market is at or near the top of its trading range, ... So it would need to be a really strong (payrolls) number to get the market continued on its bullish ways. Right now, I just don't think that pattern is going to happen.
