The market sentiment remains bullish but consumer sentiment is still well below what it should be and that's creating some hesitation for investors. However, widely-expected September selloff seems to be postponed until October, when the third-quarter profit reports start arriving. Expectations for a broad earnings recovery could prove disappointing and that could create more volatility. On Friday, telecom stocks made the best gains after lagging in each of the previous two sessions. Semiconductor stocks are showing strength this session. Sandisk (SNDK) was a primary leader in the group after it was upgraded by analysts at Bank of America's Merrill Lynch. Texas Instruments (TXN) was also showing strength after the company announced it has added a penny to its quarterly dividend.The Federal Reserve meets Tuesday and Wednesday and is likely to hold interest rates steady. The Conference Board's index of leading economic indicators is due in the morning today.
Saturday, September 19, 2009
Looking for excuse to take profits
The market sentiment remains bullish but consumer sentiment is still well below what it should be and that's creating some hesitation for investors. However, widely-expected September selloff seems to be postponed until October, when the third-quarter profit reports start arriving. Expectations for a broad earnings recovery could prove disappointing and that could create more volatility. On Friday, telecom stocks made the best gains after lagging in each of the previous two sessions. Semiconductor stocks are showing strength this session. Sandisk (SNDK) was a primary leader in the group after it was upgraded by analysts at Bank of America's Merrill Lynch. Texas Instruments (TXN) was also showing strength after the company announced it has added a penny to its quarterly dividend.The Federal Reserve meets Tuesday and Wednesday and is likely to hold interest rates steady. The Conference Board's index of leading economic indicators is due in the morning today.
