Posted on 01/21/2014 12:39:12 PM PST by John W
U.S. stocks wavered on Tuesday, with the Dow Jones Industrial Average knocked as results from three blue-chip components -- Verizon Communications, Travelers Companies and Johnson & Johnson -- failed to impress investors.
All three had "reactions to what looked like good headline numbers but the proof was in the pudding," Elliot Spar, a market strategist at Stifel, Nicolaus & Co., wrote in an afternoon note.
Corporate results so far have been mixed, with some yellow flags raised. "We still want to see it driven by revenue numbers increasing, but we are still seeing cost cutting" and other management moves keeping earnings in line, said Ian Kerrigan, a JP Morgan Private Bank investment specialist in Seattle.
(Excerpt) Read more at cnbc.com ...
I expect the market to be crazy this year. I have my hand on the trigger to sell fast
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