Tom Schrader
Tom Schrader
concerns retail sales seem
There are some concerns about retail sales but they don't seem to be weighing on the market.
beyond count durable economic goods lack land market news oil orders price reported starting tomorrow
We're starting to get into that no man's land of lack of earnings, with most of the S&P 500 having reported already. We'll have durable goods orders tomorrow and beyond that, the market is going to have to count on the economic news and the price of oil for drivers.
concerns earnings oil prices scaring
We've got earnings concerns today, and oil prices are still scaring everyone.
area builders coming home led negative news obviously
We have negative news coming out of the home builders this morning, and obviously that's been an area that has led the economy.
aside calmed concerns definitely dollar people
I don't think people have set aside dollar concerns long-term or even intermediate-term, but definitely right now, short-term, people have calmed down about it.
beyond bounce expect few given hot next severity
Given the severity of the downturn, I would think we'll get a little more of a bounce over the next few weeks, but I wouldn't expect much beyond that. I think it's going to be a long, hot summer.
breadth catalyst move oil primarily volume
We're primarily up because we're oversold and oil is down. The breadth is decent, but the volume is low. There's just not much of a catalyst to move us.
higher trying work
We're off our highs, but we're trying to work it back higher again.
basically bigger bounce due market seeing
Basically we're seeing a bounce after yesterday's debacle. I think the market is getting really oversold and we're probably due to see a bigger bounce back pretty soon.
amazing given negatives thrown
Given all the negatives thrown at the market, it's amazing how well it's doing.
ahead biggest certainly hesitation news number
Friday's payrolls number is certainly the week's biggest news, and you may see some hesitation ahead of that.
Caterpillar has the Dow down, but everything else is up a little bit, particularly the techs,
economic gains gasoline less morning news unusual yesterday
We had such big gains yesterday that it is not unusual for us to consolidate a little bit. Then, oil's down but gasoline is up and that is counterbalancing each other. The economic news we had this morning was less than inspiring.
change claims days market next nice profit rest taking tomorrow
We've had a really nice run. I think we need to see a little pullback before we go higher. There's not going to be much in the next two days to change that. Jobless claims tomorrow won't be a market mover. I think we'll probably see a little profit taking the rest of the week.