You have a number of issues, not the least of which is the upcoming [Fourth of July] holiday.
Michelle Clayman
Earnings have been pretty astonishing, but the market hasn't always responded to that. I think people are feeling better about tech earnings in particular, but we still have worries about interest rates and what that might do to the recovery.
people feeling worries market interest recovery pretty
Last week was down, so some of today is a reaction to that, with a bit of a bounce.
today reaction
The fundamentals are improving, so that's great, but there's always the risk after the run-up of the market being a bit tapped out.
risk improving market great
I think part of it is certainly a relief rally that the blackout is behind us.
part relief
Until both the economic and corporate news start moving more consistently higher, you won't see another big move up for stocks.
moving start news corporate big
If we do go to war, probably as soon as the war begins the markets will take a lift, as they did in the Gulf War. If it's short and successful, the markets could rise, but if it's not -- or if there are nuclear, chemical or biological attacks -- it could be negative for the markets. It would be a huge blow to confidence.
war confidence negative successful rise short
September tends to be the take-a-breather month, historically. I would guess the market over the next few weeks will be bound to a narrow trading range as companies begin to report earnings.
market bound begin
We're also still getting support from the low interest rates. While Treasury yields are not as low today as they've been, they are still historically at a substantial low, and that lends support to equities.
today support interest
issues
Things have been so gloomy, (but) now many people sense the bottom is here and we'll start to drift upward.
people sense start things
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