The trend on the market is still down.
The rally is being driven by tech. Money's going into the sector across the board. There's been an underlying bid in the market and any time you think we're going to get a real sell-off, it doesn't happen.
The trend on the market is still down. In general, technology seems to be the weakest part and that seems to be selling off despite OK numbers.
People have been looking for companies to say we've weathered the storm -- no pun intended -- whether it's the hurricane stuff or the macro things.
Oil could help (stocks) a little, but more than anything else it is how the S&P is up for the year and the Dow is teetering. There's some incentive to see the Dow close higher.
I think we're moving higher because it's the path of least resistance. You're seeing some very stock-specific moves, but no real trends. We're just waiting to see what happens this afternoon.
People are still focused on the outlook for interest rates. The general sense is that interest rates are going to continue to creep up a little bit but not run away from us. The financials have been under pressure most of the day.
But I think it's all about what's energy going to do, how's housing doing.
Copyright © 2024 Electric Goat Media. All Rights Reserved.