“Wall Street tends to see the light switch as on or off. The reality is that we're dealing with a dimmer switch and the lights are slowly coming up. The economy has picked up about as quickly as expected, but the market just isn't reacting to it.”
“I think some of the economic news that came out today gave people a sense that the economy isn't overheating. Worries about that had weighed on stocks of late, and certainly the bond market has indicated that.”
“Greenspan's swan song will be probably the biggest focus of the market and whether there's any change in the Fed's language. In the energy area, people expect earnings to be good and Exxon didn't disappoint.”
“In general, we're in this low news flow period where most of the earnings are already out and it's pretty apparent that the Fed is going to keep raising rates.”
“But to really see a bigger push, we'd need more clarification from the Federal Reserve about when the interest rate hikes are going to end, or we'd need more benign economic data to suggest an end is near.”
