Michael Sheldon
Michael Sheldon
Michael Sheldonis a former Australian rules footballer who played with Essendon in the Victorian Football League...
corporate despite earnings february investors month near positive prepared sideways stock trading
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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I think that next week, and in fact for the next few weeks, the markets are likely to remain in a trading range, with many of the same issues still in place.
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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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As the day progresses, oil prices have started to dominate trading and lead to weakness in the market.
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Over the next few trading sessions, it will be important to watch whether the stock market sells off on rising volume. If that should happen, that could mean a spring correction is on the way.
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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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The fall has traditionally caused anxiety for investors and produced some big declines, particularly in late August and early September.
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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.
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Right now, I think the market needs a catalyst in order to get out of this difficult environment. Hopefully if oil prices continue to decline and move back into the mid $50s, that could turn sentiment more positive on Wall Street.
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The market tone has improved over the last week or so,