Last quote by Stephen Massocca
Stephen Massocca quotes
The body language makes it sound like they're warming people up for December.
The election is tightening, but no one thinks Trump is going to win. The popular vote looks close but when you look at the electoral college, it's not close.
So are we waiting for the September employment report on the first Friday of October? Is that the next piece of news that matters?
Oil is dragging the market down, and I think the fear is building that if the employment number is good, the Fed will pull the trigger.
I think we're extended here. I think we're due for a pullback, but as long as interest rates stay where they are, stocks aren't going to go down a lot. We're 200 points off the June bottom. We had a 10 percent rally … It's a tinderbox right now. All it needs is a little spark.
The markets were extended, not only price-wise but psychologically (they) have been extended. It's only natural to see a pullback here and I think this pullback is something that could continue for a little while.
They're going to start setting people up for September. The economy is clearly getting better and we're seeing less concern about international events.
We're going to start seeing earnings and they're not going to be terrific.
It was pretty clear that there was going to be this increased demand for stocks because of what was going on in the bond market, but that kind of has gone away for now.
There's going to be a lot of reconsideration, pausing, certain deals that were contemplated are going to change. But ultimately, this is not going to have a fundamental impact on how the world goes about doing business.
If 'Remain' wins, then probably the (U.S. stock) market will move higher. If 'Leave' wins, it will be a mirror image of that - there will be an immediate sell-off that could be rather severe, but once cooler heads prevail, the market could move back higher.
I think they'd telegraph something if they were going to say something. If you look just at the U.S. economy, it makes sense to raise rates, but if you take all the international machinations including currency relations into account, it makes it more difficult to raise rates. The yen and euro I think would react dramatically to a significant change in U.S. interest rate policy at this point.
I think [the stock market] is due for a little pullback, quite frankly. I think it's a little overbought. The S&P at 17 times [earnings] is not cheap. I think the current monetary regime is a stock market flotation device.
I think there'll be a lot of eyes on Apple, and on earnings in general.
I think people are starting to become concerned about valuation here. Given the rally that we've had over last few weeks, stocks are extended and susceptible to bad news.
The big influence continues to be concerns about what's going on in China.