Jon Brorson
Jon Brorson
ebay metals mining mixed related
Today, it can be summed up with GM, eBay and metals and mining stocks. It's all related to earnings, and it's a mixed bag.
earnings good season
I think earnings will be good this quarter. The pre-announcement season was very innocuous.
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People are looking for commentary from Greenspan and other members of the Federal Reserve, ... Earnings have been great over the last year and half, but the market hasn't gone anywhere, and it's because the Fed's sitting on the market.
nasty people
People are real skittish after the sell-off on Friday. That was a pretty nasty bump.
earnings forecast generally growth percent track
Our forecast was for earnings to come in around 13 percent year-over-year growth, and they're on track to do it. They are surprisingly better than expected, and outlooks have been good, generally speaking.
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I wouldn't be surprised if the market wakes up tomorrow and buys them (stocks) back again.
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Gold is very sensitive to inflation. If you're worried about inflation, you tend to see gains in gold.
good
Caterpillar had good numbers. That's got to help.
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We got a lot of earnings and so far so good. The trend is going to be up, frankly, because the economy is chugging along, even with $74 dollar oil, amazingly.
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We've had quite a run over the last three weeks, and I think the equity market is going to have a little bit of profit-taking, especially in light of a no-news day.
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We've never seen a recession without the yield curve inverting, but the corollary is not true: Just because the yield curve inverts does not mean we're going to have a recession.
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Sitting on the market has been this 800-pound gorilla, King Kong of the Federal Reserve, and when you remove this gorilla ... I think stocks can work their way higher.
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Energy's acting well even with the price of crude down thanks to the Exxon upgrade. That's why we're falling more on the positive side.
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Energy has been pretty darn strong even with the price of crude down. In fact, the only real negative sector is consumer discretionary, because of the horrendous consumer sentiment numbers.