The Wall Street bailout bill is likely to pass, but investors wonder "how much is it going to damage the financial system and how much is it going to damage the economy?" So says Chuck Lieberman, the chief investment officer at Advisors Capital Management. He tells Steve Potisk "banks are [...]
Tony Dwyer, equity market strategist at FTN Midwest Securities, tells Andrew O'Day the Fed Reserve's rescue of AIG is a necessary move, but no one is tackling the credit market's illness - too much debt on the books.[...]
Todd Leone, managing director at Cowen & Company, tells Andrew O'Day the primary driver of today's advance is traders second-guessing yesterday's deep gloom.[...]
Bill Stone, chief investment strategist at PNC Wealth Management, tells Andrew O'Day the crisis surrounding Fannie Mae and Freddie Mac may be ending, but investors are mistaken if they think the overall credit shakeout is winding down.[...]
Mike Holland, fund manager at Holland and Company, tells Andrew O'Day the market's pain today comes in part from the realization cash-strapped shoppers have become adept bargain hunters. Good news for Wal-Mart and Target, tough for everyone else.[...]
Al Goldman, chief market strategist at Wachovia Securities, tells Andrew O'Day Wall Street is high on confusion right now, but investors are slowly laying the groundwork for a new bull market.[...]
Robert Pavlik, chief investment officer at Oaktree Asset Management, tells Andrew O'Day Wall Street is loving today's reversal of fortune. Stocks sensitive to oil prices, which this year have brought up the rear most days, are leading today's rally.[...]
After a couple of days of strength, "the market wanted to go down." So says Loren Danielson, a senior vice president at Ferris Baker Watts. He tells Steve Potisk "when the news this morning wasn't disastrous, but it wasn't spectacular," traders chose to sell. As for oil prices, Danielson says [...]
"We've got a lot of people on vacation." So says Marc Pado, the US Market Strategist at Cantor Fitzgerald. He tells Steve Potisk that's leading to the volatility seen lately on Wall Street. He expects once everyone gets back to work, "we're going to continue to see this consolidation base-building [...]
Wall Street is heading into the "quietest days of summer," so there isn't a lot "of volume going on here." However, Liz Miller, portfolio manager at Trevor Stewart Burton Jacobsen says the gains are still "a great way to end the week." She tells Steve Potisk "two pieces of news [...]
The credit crisis is number one. So says Peter Boockvar, equity strategist at Miller Tabak. He tells Andrew O'Day the weekend article in Barron's suggesting a bailout of Fannie Mae and Freddie Mac confirms Wall Street's fear: the worst is not over.[...]
Mike Holland, fund manager at Holland & Company, tells Andrew O'Day the headline reason the market has started lower today is the big quarterly loss at Freddie Mac, but the big picture remains the oil price decline.[...]
Jim Awad at W.P. Stewart Asset Management says AIG's earnings slide reminds us financials are suffering. Oil's spike reminds us the economy is under control of the spigot. Falling store sales remind us the stimulus checks can only be cashed once.[...]
Bill Stone, chief investment strategist at PNC Wealth Management, tells Andrew O'Day the market has been soothed by less-than-the-worst economic reports such as today's July employment reading. But the trend is still down.[...]
Al Goldman, chief market strategist at Wachovia Securities, tells Andrew O'Day Wall Street's recovery from bear market lows will take time. It has started, but traders remain too nervous to jump in with both feet.[...]
Mark Pado, U.S. market strategist at Cantor Fitzgerald, says Wells Fargo's strong earnings report proves brokerages have been too hasty to downgrade the entire banking sector. Pado tells Andrew O'Day lower demand for oil is adding to the rally.[...]
Art Hogan, chief market analyst at Jefferies and Company talks with Steve Orr about oil, weekly jobless claims, Circuit City and Pier 1.[...]
Craig Rappaport, wealth manager at Janney Montgomery Scott, talks with Steve Orr about earnings reports from FedEx and Morgan Stanley, as well as a new report about the economy.[...]
Al Goldman, chief market strategist at Wachovia Securities, tells Andrew O'Day wild volatile swings are normal as Wall Street slowly transitions from a bear to a bull market. He says it helps to be crazy in this business.[...]
Todd Leone, managing director of Cowen & Company, tells Andrew O'Day the rally in oil prices and the tumbling of Lehman Brothers stock both were overplayed, so their corrections are boosting Wall Street.[...]
Bill Stone, chief investment strategist at PNC Wealth Management, tells Andrew O'Day Wall Street likes the fact oil futures are not doing much to reclaim recent lost ground. He says today's report showing controlled core inflation is a bonus.[...]
Andy Brooks, head of U-S Equity Trading at T. Rowe Price, tells Andrew O'Day market consolidation is good--but not necessarily on the back of record oil, fast-rising wholesale inflation and fresh credit gloom.[...]
John Forelli, senior vice president at Independence Investments, tells MarketWatch's Andrew O'Day today's market action is a broken record. Traders are worried about oil prices and financial sector weakness. But the market will head higher.[...]
Al Goldman, chief strategist at Wachovia Securities, tells MarketWatch's Andrew O'Day stronger than expected increases in oil supplies and worker productivity are competing with the fact Wall Street has rallied for weeks to an overbought stance.[...]
Art Hogan, chief market strategist at Jeffries & Company, tells Andrew O'Day Wall Street is surprised Yahoo did not take Microsoft's takeover offer. Less surprising today is the analyst call for Bank of America to walk away from Countrywide.[...]
