Art Hogan Household Quotations

There's a lot of improvement priced into the earnings, and provided we see confirmation of that, we should be able to keep gaining over the next few sessions, ... But if another major household name -- like GE last week -- were to disappoint, you could see some selling.

There's a lot of trepidation out there about earnings, ... A lot of times, the complexion of markets is what the household names are doing. A couple of weeks ago it was about IBM ( Research ) and Apple ( Research ). Today, it looks like the focus is on Amazon, and that can shape the market -- at least in the early going.

Fifty-two percent of the households in America are invested in the U.S. stock market and they want to invest in the things that had 70 percent growth last year, ... As long as the money keeps flowing into equity mutual funds and they are targeted toward Nasdaq stocks, we are going to see this go on for a while.

I think the theme is going to be that you have to pick the winners, and I think the winners are going to be the large-cap household names, like IBM, Dell, Microsoft, Cisco, and Intel. I think they'll lead us for a little while.

The fourth quarter is when we'll see the impact of rising interest rates, higher energy prices, ... I would say eBay is the biggest piece of the problem this morning. It's a household name and it's adding to the sentiment we're not going to have the best of fourth quarters.