We still keep seeing better-than-expected earnings. The important part of it to me for the market is that these are core companies and industries. |
We're having a pretty good time economically, and what that's saying is the consumer is alive and kicking. Retail is a huge factor in our economy. |
When interest rates go up, the utilities don't do so well, and I think there's a developing consensus that they've gone awfully far. |
When the market is uncertain, it either drifts or goes down. Looking at the economic figures that we're seeing, it tells you that inflation is coming. I suspect the Federal Reserve will keep beating on it gradually. |