We're seeing a reversal. We had a nice run-up, but now we are giving back the gains.
GM has just been a big dog. It can't get out of its own way. It's going to be a 'show me' kind of stock, until they show us they're actually not going out of business.
People are asking themselves why they should be in the stock market if they can get a 5% return safely.
Volume is very light. You get days like this, and anything can move.
We have been backing and filling for the last two weeks, but overall we have been moving higher. There's nothing in particular going on here, just some sellers coming in.
The president of the Philly Fed is saying the Fed has to adapt to changing circumstances, ... With what's going on in New Orleans, I don't think the Fed can raise rates.
You had good news on Philip Morris. We had a great move, but the market sold off.
The wording of the Fed statement is going to be important to see if the Fed is going to (step back for a while) or if they are going to continue raising interest rates.
The (Nasdaq) composite has broken out; it hasn't been here in a while.
Oil moved higher, which kind of hurt us. We're in a kind of a tight range today, nothing really exciting about the day.
A lot of what has happened has been caused by the quadruple witching. You might have seen people unwinding their positions yesterday and so today they come in little bit.
(It looks like) people came in and read about the bin Laden stuff and might have gotten a little nervous. Oil is up again, and you've got earnings too.
Inflation is still relatively benign. Yields are down, which is helping. People are getting out of bonds and probably putting some money to work in equities.
Intel came out with a warning and they're getting whacked on that. It's all Intel that's taking the market down.
Cisco (stock) was kind of stagnant, so it's nice for Cisco. It's not breaking out of a range or anything, but it's certainly positive.
The drop in oil prices was a big surprise and the market is reacting positively to it.