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Reply #91: U.S. stock indexes shake off losses [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-16-11 10:55 AM
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91. U.S. stock indexes shake off losses

NEW YORK (MarketWatch) U.S. stocks shelved the bulk of morning losses Monday as equities meandered and investors entered a seasonal lull that often comes as first-quarter earnings wind down.

The sell in May and go away adage has some fundamentals behind it, given markets tend to move higher on economic data and earnings, said Marc Pado, U.S. market strategist at Cantor Fitzgerald.

After first-quarter earnings, what compels markets higher often comes down to consumer spending, and summer is not when that happens. After Easter, outside of the Fourth of July holiday you dont have sales generated because of holidays until back-to-school spending in September, Pado said.

If there was a real catalyst for fear, money would be coming out of the market, but instead it is being rotated, said Pado.
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