49 ordspråk av Paul Nolte
Paul Nolte
Investors are starting to realize that earnings aren't terrific. For every good earnings report, there are three or four to the downside. It also seems that the bigger names are the ones disappointing.
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Now, instead of every bit of good news being hailed as the latest sign of recovery, it is being scorned as another nail in the coffin for easy money.
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On a year-over-year basis, the inflation figures are not anything to be concerned about.
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Overall it doesn't look too bad. The prices paid is a concern. We'd like to see it come down a little. It's an inflationary key.
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Right now sentiment is all loaded on one side of the market. It gives you the idea we're running late in the game -- we may be in the process of putting in a short-term top in the market.
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Searching through the Alphabet Soup
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So what is an investor to do?
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So what is an investor to do? Based on Friday's response, it may yet be a long dark winter.
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Stocks have had a real tough time maintaining gains this whole week. When we start taking a look around, gains tend to evaporate. Today, investors are looking at tech leaders. Those stocks are where the weight is being carried.
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The economic numbers are driving the bus. As long as the numbers remain kind of weak, if it doesn't look like we're getting much of a turnaround, then markets can continue to slide.
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The foreign markets are on an absolute tear, so there's some thought that the liquidity might start coming back into the U.S. markets.
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The important decisions haven't been made yet. You get the impression that there's not much really moving and ask yourself whether the optimism is really justified.
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The ISM report did have a big impact on the markets, and part of the reason is that the economy is now more of a service economy. And services are going to be much more directly and more immediately impacted by the higher energy prices we have seen.
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The numbers are good from the Fed's perspective, even with November's ramped up numbers. Job growth is still slow and wage pressure has been nonexistent all year. If trends continue it could put pressure on the consumer. We may see the Fed have one more rate hike and then (be) done.
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The upgrades are certainly helping Intel and Exxon, and that's boosting the Dow.
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