Art Hogan
Art Hogan
brings buyers capture clear companies data economic good great hurdles key market news passing recently saddam short
I think there's a lot of things going on, ... We had some good news from companies like Oracle, great economic data this morning, and you had the market clear two key psychological hurdles recently -- the Dow passing 10,000 and the capture of Saddam Hussein. All of that brings buyers back in for the short term.
avail benign fed number raise thinks
No one thinks the Fed is going to raise rates, so to what avail does a benign PPI number do to the market,
money people selective slow steady throwing wiser
I think people are still not throwing money at everything that has a 'dot.com' on the end of it. I think slow and steady is going to win the race, especially if we have broad, selective and wiser investors.
clearly effect equity exaggerate low strange summer tends vacation volumes
I think we're clearly in summer vacation mode, so we're going to have low volumes -- which has a strange effect on equity valuations and tends to exaggerate moves,
ahead bid close fed frame hope market monetary people policy time tired tomorrow waiting within
People are bid up the market by the close to get ahead of the Fed on the hope of a 'Fed bounce' tomorrow (Tuesday), ... We're still well within the time frame of the Fed's monetary policy stimulating the economy, but people are just tired of waiting for it.
biggest consumer dollar earnings effects fear ill strong versus warn weak
The biggest fear is earnings going forward, ... All the consumer non-durable multinationals are going to have to warn about the ill effects of the strong dollar versus the weak euro, but that's cyclical.
last sluggish wednesday worried
Last week, we were worried about a sluggish economy, Wednesday it was back to inflation,
beginning ideas
The winnowing down of ideas is beginning to happen.
days elections hard rotation
Compaq is weighing down the Nasdaq, but we're getting a rotation into Dow stocks, ... It (the election) got so petered out after 35 days that it was hard to get much of a reaction.
certainly confident hear helps months
It certainly doesn't hurt, ... It always helps to hear her say that she's still confident but it's 12 months out.
major pressure turned
I think that turned (the market) around, ... There is no inflationary pressure and that was one of the major concerns.
considered fed good interest news rates rising
The Fed said rates are going higher, which was no surprise. But when you're in an interest rate rising environment, all the smatterings of what would be considered good news look like a confirmation that rates will rise.
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My guess is we're going to have some positive action after last week's selling. We're in the last week of the month and the last week of a quarter, so there's some momentum there. If the stream of economic data is as positive as it's been, we're going to see some strength from that.
action either fed guess higher meeting remain start tuesday until venture volumes
But if I had to venture a guess I think we'll start trending higher up until the Fed meeting on Tuesday and then really take off. Unfortunately, the volumes remain anemic here so there's not a whole lot of action going on either way.