Art Hogan Seeing Quotations

I think the semiconductors and the Nasdaq had sold off a little more than the rest of the market recently, so you're seeing them gain, ... But basically we're all waiting for everything that happens next week.

We were up more than 100 points yesterday, so you're seeing a reaction to that today,

We're seeing a nice handful of earnings today. That is going to be the driver. The other driver, or the thing that's not going to hold us back this quarter, and I would argue has held us back the last three quarters, is the consensus is the Fed is done for the year, ... We don't have a credit tightening cycle to go through and we're seeing terrific earnings. So I would argue that the focus returns now to earnings growth, revenue growth, the strength of corporate America and not necessarily the macro-economic themes like monetary policy which have been on the forefront for the last couple of quarters.

We're seeing better earnings news in corporate America. That's what the market is celebrating, ... We made major collateral damage to stocks in the last six weeks and over a larger 2-1/2-year period. What's happening now is that the market is bottoming out and is building a higher support base in the process.

This is definitely good news, ... Six out of the previous eight PPI reports have been higher than expected but the corresponding CPI reports have not. That means that we're not seeing the creeping effects of inflation passed on to the consumer.

Not to be heartless, but this is very good for Wall Street, ... And I think that is why we are seeing this market take off in the early going.

The concern (about ECB rates) is that the firmness we've been seeing in the dollar is because they were raising rates and the Europeans weren't, ... If they start raising rates, that firmness evaporates, and our investments don't look as attractive as they did last week.

It's an oversold bounce, ... After you get oversold, you have a reflex rally, and that's what we're seeing now.

I don't we're seeing we see the collateral damage to broader market that we did in the fourth quarter,