Art Hogan Reaction Quotations

We were up more than 100 points yesterday, so you're seeing a reaction to that today,

Today wasn't much of a day. There was a lot of positive news and the economic data was good, but the reaction was a very quiet, almost muted one. Tomorrow may be even quieter in terms of volume as we approach the end of this holiday-shortened week.

This is a delayed reaction to the Fed's rate cut and it was good news, ... It looks like investors are participating.

The global reaction to this is more of a psychological response than a rational one. People wake up and read whatever wire service they're going to read and realize that one of the major Asian markets was down by up to 6 percent overnight, and there are a number of tech earnings disappointments and it tends to cascade. Eventually you get a more rational response after people have time to come to terms with what is really happening.