The only way I can see why the market is not reacting to several negatives out there is the anticipation of one more (rate) hike and we're done.
The fourth quarter is going to be volatile and trying. I don't think the market has fully discounted all the negatives in front of it, including the hurricanes' impact on the economy, higher energy prices on corporate profits, and higher inflation.
The fourth quarter is going to be volatile and trying, ... I don't think the market has fully discounted all the negatives in front of it, including the hurricanes' impact on the economy, higher energy prices on corporate profits, and higher inflation.
There is a fear that we'll have a negative surprise and inflationary fears are keeping people on the sidelines, ... There's no real great impetus out there to drive the market.
This perception creates a negative opinion on Wall Street. But over time, it will help the equity markets because it is reflexive of a better earnings picture.
The price of energy should spook investors. So far, the market is foolishly accepting of the price of oil without a negative reaction as long as it doesn't break out to a new high.
Today will be a test of the market to see how it handles some negative news in the tech sector, Dell being that test.
Nothing is negative out there but there's such little commitment. The tone of the market is that technology still looks lackluster.
Without having that constant barrage of negative news, there is the opportunity for the market to exhibit some strength.
There are certainly negatives out there, ... But the psychology has changed and the bad news isn't having as big an effect on the broader market.
If the GDP gets revised downward, it's a negative for the markets. If it stays anywhere within the expected range, it gives credence to that the fourth quarter was some economic trough.
We don't have a predominance of negative news, day-to-day, in terms of economic events.