Michael Carty
Michael Carty
Michael Cartywas an Irish Fianna Fáil politician. Born in Loughrea, County Galway to Lawrence and Josephine Carty, he was the eldest of seven children. A schoolteacher by profession, he was first elected to Dáil Éireann as a Fianna Fáil TD for the Galway South constituency at the 1957 general election. From 1961 to 1969, he represented the Galway East constituency, and from 1969 to 1973 the Clare–Galway South constituency. He retired from politics in 1973...
along continue economy election elections gets kinds looking market moving nicely policies seems start stocks sudden until
In most election years, stocks are up. But when you think about the kinds of policies that are going to be implemented, the market gets a little worried. So, I would say up until the election you will see some very interesting dynamics. If they feel that a demonstration is favorable, drug stocks will get in then and all of a sudden the drug stocks will start looking hot. If the economy seems to be moving along nicely the high-tech new economy-type stocks will continue to do well,
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Markets tend to be very uneasy during the election year. One of the problems is that no one wanted to make a big commitment without knowing who was going to be at the helm.
oil prices
The oil prices are really a bugaboo on the market.
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There seems to be a lot of economic momentum and earnings momentum fueling this market.
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I think tomorrow should be a fairly positive open, with the techs a little higher on Microsoft and in response to the action over the last few days. We've had a couple of ugly sessions and you're likely to see a little bounce off of that.
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The new orders index was better, profits are going to be up a little, interest rates are at a record low, there have been so many layoffs that that may start to dry up, there will be rising productivity and higher profit margins -- all these things combined could give some support,
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If a company is so sure that their stock is a bargain that they're willing to buy it back, that's reassuring.
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Because inflation is modest, and worries about that are starting to diminish, I think the focus will turn to earnings, and the earnings are going to be very strong.
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First off, Microsoft does have a good product mix, ... It has a five-year earnings growth rate, which is somewhere around 15 percent because it is a giant after all.
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The economy remains in a growth pattern, and normally the market would be responding favorably. But people are worried about inflation, the rise in energy prices and the weak dollar.
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In general, the news continues to be mostly good, but people are now waiting to see what the next rotation will be in stocks, or what the next catalyst will be to move the market higher.
factors
It's one of these choppy days, where there are a lot of different factors at play.
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This has been the strongest quarter in three or four years, and so you'd expect investors to want to take some profits as the quarter is winding down.
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The most prudent position for any investor right now, ... would be to be buying on the dips, particularly those attractive technology stocks that are selling at something of a discount.