It's another piece of the ongoing trend of a slowing economy, ... The credit tightening cycle is nearing an end and we have the equity markets celebrating that.
It's distressing how slow it's been this particular summer season,
I think people are still not throwing money at everything that has a 'dot.com' on the end of it. I think slow and steady is going to win the race, especially if we have broad, selective and wiser investors.
I think we're going through this natural vacuum in the news cycle where we have a quiet economic calendar and the fourth-quarter earnings reports are slowing down. It's difficult to generate any interest in the market.
Obviously, we are still concerned about how much the economy is slowing going forward. There are a lot of people who aren't making bets on this marketplace.
If we can continue to see (the economy slowing down) perhaps we're done after Tuesday's Fed meeting.
You can't have it both ways -- the economy can't be strong and have us worrying about revenue growth going forward, so it has to be the trend is slowing and how much that affects equity valuations going forward.
We celebrated the fact that (the Fed) was much less stern on their rhetoric yesterday (Wednesday), but today the party is over and a slower economy may have an adverse effect on earnings,
When that happens, we typically have a slow day. You'd be hard-pressed to find anyone making big commitments.
If we continue to see the trend slowing and we get better (economic) numbers, I think the Fed can take a pass at the end of the month and wait until August.