A lot of people have been talking about how they had been expecting Intel to come out last night and refine guidance upward. Buy on the rumors, sell on the fact. |
All eyes and ears will be on the Fed meeting. |
An investor who was long the market from November to April, but then adopted a defensive approach by rotating into either the S&P Consumer Staples or Health Care sectors during May through October, would have found ... that the returns were well worth the effort. |
As far as the Merrill Lynch note is concerned, it's like reading an obituary that someone had died without knowing that they were still alive. Merrill cut its stock exposure to 45 percent, but why was it at 50 percent to begin with? That should raise some concerns. |
Basically the top ten industries were those that are economically sensitive and are bouncing back from their deeply oversold condition last year as a result of lower interest rates. We do believe the Fed will remain aggressive with its easing interest rate policy but we feel the earnings are going to be pretty bad for the first quarter, so the market is likely to tread water for awhile. |
Both are involved in a sort of a turnaround situation with the economically sensitive group and I think at least, over the next couple of months, they'll do well, |
December is one of the best months of the year for retailers. Of the past four years, retailers have beaten the market. Typically, everyone says the Christmas season is going to be horrible and they don't want to be in retailers, only to see December do very well for the market and even better for retailers. |
Earnings are about today, whereas interest rates are about tomorrow. And investors tend to focus on tomorrow. |
Equity markets have climbed a wall of worry in the 18 months since the Fed began raising rates. |
Everyone is looking to dish the technology stocks on higher interest rates, but they continue to show they are not interest-rate sensitive, or at least as much as people would like. |
Foremost on investors' minds is the elevated price of oil. It appears to us that the $40 per barrel level represents a 'line in the sand' above which the equity market retreats and below which the market breathes a sigh of relief. |
He's probably going to have to force interest rates lower in the latter half of the year. |
History would say that, whenever we have an extended up-move, chances are you need to catch your breath and go sideways for a while. Is it possible that will happen now? Yes. Is it necessary? No. |
Hurricanes Charley and Frances are likely to lower third-quarter GDP slightly, in our view, because of reduced sales and production, as well as the transportation disruption, |
Hurricanes Charley and Frances are likely to lower third-quarter GDP slightly, in our view, because of reduced sales and production, as well as the transportation disruption. |