69 ordspråk av Lynn Reaser
Lynn Reaser
If a company is mute, they (investors) often sell because of the uncertainty. Go back and start looking at fundamentals.
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It is difficult for the Fed because there are all these cross-currents.
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It will be ugly. In any case it's only one month's number, but it could either alleviate or exacerbate inflation concerns which have recently accelerated.
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Oil prices are still very high, but much more moderate than the worst fears of last week.
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On the import side, the strength is from a rebuilding of inventories from companies and a general expansion of the U.S. economy. Petroleum imports increased, adding to the import bills.
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Overall inflation remains quite benign. Companies selling to consumers and businesses have limited pricing power.
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Overall, it's a positive, but on its own it poses its own challenges.
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Retailers are biting their nails because of the large decline in consumer confidence. But it remains to be seen whether consumers will vote with their feet.
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Right now we're already starting to see that rebuilding is under way and energy prices are moving lower so that makes it easier for them to stick to their strategy. They will likely conclude that the economy is showing a great deal of resilience and that it is able to withstand a higher level of oil prices.
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Statistics do lag changes in the economy. I believe we will be migrating to one economy that will be a new economy as many companies that have been around for years embrace some of the newer technology.
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The bottom line: The strategy of gradually raising interest rates is not over, and unless the economy softens materially, more quarter-point hikes can be expected.
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The cacophony on Wall Street this week reflected concerns that the Federal Reserve may raise interest rates further and that corporate profit performance could start to dissipate.
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The economy remains very solid and it appears likely to expand at a pace of 4-1/2 percent to 5 percent in the second half of the year.
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The economy was firing on almost all cylinders. It is continuing to show the resilience we've seen time and time again.
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The economy was pretty much firing on all cylinders, and the second quarter showed us still on a good growth track ... but oil prices pose a risk to growth and inflation.
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