Ned Riley
Ned Riley
celebrated next report
The May payrolls report will be the celebrated one next week, and there may be some controversy around it.
call economic last seen six strength weeks
The economic strength that we've seen in the last six weeks has been what I call deflationary.
economic news strong supportive today
The economic news today has not been very supportive of a strong economic scenario.
companies earnings giving growth lifted people perception safe seems stocks trying
The Dow seems to be lifted because people are trying to resurrect the old growth stocks and giving them another try as a safe place to hide. The perception is that some of these companies are not currency- or energy-dependent enough for earnings to get hurt.
attract investors portfolio purely tech
The Dow is still going to attract because investors still want to diversify away from a purely tech portfolio and find value.
behaving given market rally since
The market is just behaving very nicely. We have given up very little of the rally since March.
considered decision fed katrina legacy living market number people raise yesterday
The market is also still living with the legacy of the Fed's decision yesterday to raise rates, ... There are a number of people who feel the Fed should have paused, and should have considered the ramifications of Katrina and Rita.
ahead basically buy carry case either interest people prepared sell
I think it's basically a case of no interest on either the buy or the sell side. People have already emotionally prepared for the long weekend, and they don't want to carry much ahead of it.
crude dominating minds price
I think the price of crude is still dominating the minds of investors.
clearly continue microsoft next period produce reality until
I think you're going to continue to see this until we get through this whole period where there are these expectations that are clearly different than what reality is going to produce next year. Microsoft is only another example.
changes consumer continue economy fed further income inflation june outlook remain until vibrant
I think the Fed has at least one further tightening in June and another one in August. Until the American consumer changes his or her outlook on further income growth, the economy is going to remain vibrant and inflation will continue to rise.
bond bonds favorable less market negative rally report stocks
I think the bond market has already discounted a favorable report but not a negative report, ... If we see something less than 150,000, bonds will rally and stocks may, too.
attracted buyers clearly continue damage economy extensive fact market people resilient result though
I think some buyers have actually been attracted to the fact that the market has been down so big (this week) even though there may be extensive damage as a result of Rita. Clearly people are concluding things will continue to go on and that the economy is resilient enough to take another blow,
damage situation stay stocks until
I think we're in a situation where until the storm's damage can really be assessed, which could be weeks, stocks are going to stay under pressure.