Debra Borchardt is with Alan Valdes of DME Securities, who said that it's actually a
thing that China is tightening its monetary policy, motivated by potential inflation fears after seeing increased consumer spending.
However, he did express caution that China would have to be careful in regards to how much they tighten, but suggested that it should be OK.
He also said that their housing market has been doing well, but admitted that overall, Chinese growth will likely start to slow down a bit in the future.
Valdes also suggested that today's macro news might just be an excuse for some investors to start taking profits, realizing some of the large gains for the year.
Aside from profit taking, he admitted that earnings have been relatively mixed, citing
, which did good, and
, which did bad, as two that fit the bill.
He concluded that with a few big companies still left to report earnings this week, like
, investors are simply locking in some gains and taking profits.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.