All kinds of economic data and corporate third quarter reports are coming out today.
With everything out on the table, the present state of the corporate economy becomes clearer. We are still reading that the market will stay put for the time being.
One might suspect that we can infer some good new here, in that the market is not expected to severely drop anytime soon. The 10K area seems to be the landing zone for this week and probably the next.
CNN: Stocks poised for a weak open
Having recently reached the hard-won goal of 10,000, Leone (head trader at Cowen & Co) believes the Dow will probably "range around for a little while" without making dramatic moves, one way or another.Reuters: Stock futures slightly lower ahead of data
"The market has risen a bit from the low, and it can't be supported on just these earnings surprises," said Rick Meckler, president of LibertyView Capital Management in New York.
"It really needs revenue growth and not just cost cutting, and for that you need better economic conditions."
2 comments:
Oh where O where will the next bubble rise? Since NOTHING has changed and the same crew of pirates and hiwaymen are still in charge and large where will they strike next? Your either with em or against em and it looks more and more by the day that Obama et. al. are with them NOT us.
The bubble is already in. Its in AmReits. These are companies that are buying up bad mortgage debt with cheap money, and government backed guarantees. Its hardly a losing proposition.
Check out AGNC - with a ridiculous dividend, almost criminal its so high.
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