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Wall Street Edges Up On Strong Economic Data

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By Reuters

NEW YORK, NEW YORK, UNITED STATES (DECEMBER 17, 2019) (REUTERS) (SOUNDBITE) (English) VESPULA CAPITAL, FOUNDER AND CEO, JEFF TOMASULO, SAYING: "Well, I think we have had such a good run, right? Like there is, you know, when you look at it statistically, you know when you get five days in a row, six days, we don't get that many five days in a row of the S&P going up. So, by taking a little bit of a breather and kind of regurgitating and saying, 'hey, what's going on in the market,' that's a good thing, right? And I also think there's some issues that have come out with the trade deal, right? You know, you had China saying, 'Hey, we're only going to buy $17 billion worth of agricultural products.' And you have the United States say, 'no, they're buying $30 billion.' And, I think, with that kind of uncertainty, again, the market wants to see certainty in this in this trade deal. Now, the question is, can it sustain itself? And that's what I think investors kind of need to sit there and figure out. And you see this when companies come out with earnings, right? Like Target had blowout earnings, and they GAAP-ed up ten percent. Can you hold up there? Is there enough? So, when you really think about it, is there enough buyers at that new prices. And for us, you know, looking at the price of the S&P 500, are there enough buyers or sellers up here? Who's going to win? And going into the year end, people going to want to, you know, sit there and either take their gains or wait and see what the first quarter of next year is going to happen."
Dateline: 2019

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