Michael Sheldon
Michael Sheldon
Michael Sheldonis a former Australian rules footballer who played with Essendon in the Victorian Football League...
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The fall has traditionally caused anxiety for investors and produced some big declines, particularly in late August and early September.
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Looking ahead to next week, the more important question for investors will be: 'Will the market experience a holiday hangover as investors take profits?'.
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Oil prices in the morning would've been the biggest story, but by the close the market's incredible resilience is what investors are left with, ... It's a contrast to how the markets ended yesterday. I think so far higher oil prices have not had a major impact. There are a lot of positives driving the consumer and the stock market.
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Looks like the stock market has gotten off on positive footing after yesterday's broad-based decline. We're seeing gains in eight of 10 S&P sectors. The data that came out so far was pretty much in line with expectations. Looking ahead, investors will be keeping an eye on auto sales.
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Once bond yields started moving higher again, investors reflected on the interest rate environment and decided to take profits off the recent highs.
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February has historically been a lackluster month for the stock market. Despite many positive corporate earnings reports, investors should be prepared for some choppy or sideways trading over the near term.
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Markets are in a trading range right now, consolidating gains after the last few months. A lot of investors were looking to this week's data as a way to break out of the range, but what we've seen has left enough doubt in the minds of the bulls that we aren't likely to break out of this range in the next few sessions.
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The markets remain overbought at current levels and could see some profit taking at any time. However, market internals remain very positive, so investors are reluctant to sell much into that. Given this scenario, we are likely to see more gains through the rest of the year, and some consolidation in early 2005.
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There's a major rise in oil prices, increased investor worry about the upcoming earnings season and you're also seeing some profit-taking after the market's six-week run-up.
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The market is trying to find its footing here, amid what has been a poor start to the year.
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I think the number is likely to be below the median estimate.
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I think the fact that Greenspan brought the issue of a declining dollar, global trade imbalances and protectionism to the forefront adds to the pressure today.
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Intel's news is going to hurt techs tomorrow, ... I think if the payroll numbers are disappointing, too, you're going to see a broader sell-off.
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I think the last few weeks have probably been frustrating for investors. Earnings have been very positive, but the focus has been on interest rates. Over the next few sessions, it looks like the fear of higher interest rates will probably outweigh the earnings.