Kevin Kruszenski
Kevin Kruszenski
continued energy mainly particular providing rotation seeing technology today
One thing we're seeing in particular today is the continued rotation out of energy stocks. Sectors that have been out of favor, mainly technology and the financials, are now providing some leadership, the banks, in particular.
healthy higher market sky
It's healthy for a market trending higher to take a pause, things don't go into the sky forever.
almost chance hike market month past percent pricing
The market went from pricing in another 25-basis-point hike from about 60 percent to almost a 100 percent chance over the past month or so.
energy fears gorgeous mainly providing stocks technology
Energy stocks have been the year's winners, but the weather's been gorgeous and there were a lot of overblown fears with the hurricanes. So sectors that have been out of favor, mainly technology and the financials, are now providing some leadership, the banks, in particular.
bet clearly fourth people quarter ran technology
Clearly there had been a fourth quarter bet that technology would outperform, but they disappointed and people ran for the exits. I would say financials also disappointed.
data impact next
All this data is pre-Katrina. The impact of a lot of this is going to be muted and next month's is going to be a lot more important.
hard
Where it is right now is where we started the day. It's hard to look for any leadership.