Edgar Peters Market Quotations

Results are coming in strong, but the market is concerned that this will not be sustained in the near future. There's still a lot of uncertainty, and demand for stocks is suffering because of that,

With energy prices at such high levels, any decline is very positive. The ease in oil is certainly helping the markets today.

Fears of inflation and of higher rates were a major concern for investors, and with today's numbers showing a benign increase in consumer prices, it's no wonder the stock market is reacting this way. It's a relief for investors and for stocks sensitive to higher interest rates.

This is probably as good as it's going to get for the stock market any time soon. I don't believe the Fed is actually close to ending the rate hikes.

The ISM Services data saved us from the Intel news this morning. With Intel there has been a lot of negative news that was already built in, so some of it may have been priced in. Investors now see the services sector is still growing, which is relieving the pressure the market has been under.