Joseph Battipaglia
Joseph Battipaglia
move neutral opening point quarter rally rest stance
I think it is a quarter of a point move up, but a neutral stance by the Fed, opening up the way I think for a big rally for the rest of the year,
consumers flexible good government power quarter rest retail sector spending stocks strength strong
The government contributed to that strength by spending more. Retail stocks had a good first quarter because with the strong economy, consumers had flexible spending power. The retail sector still has the power to outperform for the rest of the year.
basis concern evidence leg market next quarter roll third weak
The market anticipated a very weak third quarter. There was concern this would roll over into an on-going problem. Once we have evidence that it is not and the third quarter comes in a little better than expected, that will be the basis for the next leg up,
challenge current good news quarter
I think the good news is that the current quarter is OK, and the challenge is going to be what comes next,
build lows momentum seen steadily stronger
I think we've seen the lows and we're steadily going to build momentum for a stronger market,
action bad company difficulty few gains last looks major market news point service shocks
We have a lot of difficulty with the telecom service sector, ... It looks like the bad news is localized in that company and that sector. We're at a point where most of the major shocks have been had and the market action today, after the gains over the last few days, is very constructive.
dollar gold safety
I think gold is not the right place to be right now. The dollar and U.S. Treasuries are now the safety valves.
dollar gold safety
I think gold is not the right place to be right now, ... The dollar and U.S. Treasuries are now the safety valves.
continue fed few lower news next oil prices raise relief trading weeks
We continue to be in this trading range, at the lower end right now, ... The only catalysts that can get us out of here in the next few weeks is some relief at the pump, lower oil prices and news about how much the Fed is going to raise rates.
cap leading market names
When you look at how the market is trading, the big cap names in the right sectors are leading the market,
brazil economy emerging markets seeing
The real story is how well the U.S. economy is performing, ... Brazil is important, but I think we're seeing the end of the emerging markets crisis, not the beginning.
concerns economy expanding improve mixed number raising result retail sector services
Today's ISM services number was a disappointment. The economy can't improve if the only sector expanding is the consumers. And now the mixed retail result is raising concerns there, too.
caused change economic environment few figure good holding katrina months next people trying
You have some good economic data, but I think everyone is still trying to figure out what the post-Hurricane Katrina environment is like, ... For now, the fundamentals look strong, but that could change in the next few months as the distortions caused by Katrina come through in the economic data, and that's what has people holding off.
economy fare february happens iraq january market move rest tone
What happens with Iraq is very important in January and February to pretty much set the tone for how the economy will fare for the rest of the year. So when we have that answer, then you can get your market direction. In the meantime, you essentially move sideways.