IBM's numbers looked very good. Intel's the ugly one because the worry is many investors are expecting higher corporate spending to offset potential weakness in consumer spending.
We're seeing global rate increases, which is having an impact on global bonds and that affects stocks here. American investors are becoming more concerned about how higher rates will affect consumer spending.
The worry with Intel is many investors are expecting higher corporate spending to offset potential weakness in consumer spending for GDP growth this year.
Investors are becoming more concerned about how higher rates will affect consumer spending. The market can't move higher with this threat of rate hikes and inflation hanging over its head.
Investors are very concerned about future earnings, even more so than usual. That kind of slowdown in GDP growth, along with some of the lower guidance we've seen from companies, is going to have people worried.
It looks like a lot of investors made quarter-end adjustments yesterday as they put cash to use at the quarter's end. Today it seems like the economic news wasn't particularly surprising and the energy markets were relatively flat.