Jack Ablin
Jack Ablin
backdrop inflation leading market nice subdued
Between leading indicators and subdued inflation expectations, it's really set a nice backdrop for the market today,
causing fairly investor issues market stock
Fundamentally, I think the stock market is fairly valued, but there are a lot of issues around that are causing investor concern.
bond market seems
It seems like the market is obsessing on this bond market fallout.
bond derived fuel invest market move raise seems somewhat
It seems like the market is obsessing on this bond market fallout, which was somewhat precipitated by the move to raise (interest rates) in Japan. A lot of the fuel that has been used to invest in this bond market has been derived from 'easy money' in Japan.
market quality shift starting
The market is starting to shift back to quality stocks.
basis market points raising rates shock
Raising rates by more than 25 basis points would shock the market so much that the Fed's credibility would vanish.
doubt employment knowing language looking measured mind pause
After looking at the employment numbers, there is no doubt in my mind that the measured language remains. Knowing what we know now, there's no pause in 2005.
companies earnings expected growth intel question reports
Intel signaled that earnings growth is slowing, but we expected that. The real question is how much it's going to slow, what companies are going to get hit, which one's aren't. We'll know more when more earnings reports come in.
creating earnings engine environment market
Earnings are still the engine and the market is not overvalued, but the environment we are in is creating pressure.
companies earnings expected growth intel question reports
Intel signaled that earnings growth is slowing, but we expected that, ... The real question is how much it's going to slow, what companies are going to get hit, which one's aren't. We'll know more when more earnings reports come in.
comfort companies economy evidence feeling growth people profits results seeing start taking
People are taking some comfort in results and a feeling that the economy is getting better, but there's still some caution. We need to see more evidence of a sustainable recovery. We need companies to start seeing profits more through top-line growth than just cost-cutting measures.
earnings economic news positive
Right now, we have this positive confluence of earnings and economic news that has been propelling the market.
bigger economy history impact improvement interest lazy looking market oil prices rates seeing services shown stock tick
The tick up in oil prices hurts, but history has shown that interest rates have a much bigger impact on the stock market than oil. And looking at the ISM services number, you're seeing the kind of gradual, lazy improvement in the economy that's not going to really get rates going.
change comfort economic economy fed lends sees shut slight spite
This lends some comfort to the situation. In spite of slight economic weakness, the Fed sees no need to change its strategy. It's also not going to shut down the economy too quickly.