Stephen Stanley
Stephen Stanley
Stephen Stanley is a Canadian singer-songwriter associated with the band The Lowest of the Low. Stanley also performs as a solo artist, sometimes in collaboration with violinist Carla MacNeil...
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The labor market is very healthy, with both jobs and wages advancing at a nice clip. This means that households will have plenty of cash to support consumption in 2006.
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The unemployment report, for once, was essentially as expected in November. The employment situation seems to have pretty much worked through the job losses associated with the hurricanes. Now, we wait for those jobs to be recovered over the next 3 to 6 months.
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A stronger-than-expected payroll figure may lead a lot of analysts and investors to rethink their views on the
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The still-massive swing in the pace of stockpiling in the second quarter sets the stage for an explosive third quarter.
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The report follows the recent pattern of strong growth and no inflation.
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It is a little early to eulogize the housing sector. Look for any deterioration in starts, sales, etc., to be more gradual than the weather-depressed December starts tally would suggest.
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The economy is clearly advancing nicely right now and it will in our view take more than a 5% funds rate to slow it down.
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I think the next really big number for the market is next Friday's retail sales figures. Up until Friday, investors are going to be focused on oil prices, the earnings, and to an extent, the election.
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The employment number will be the key for the stock market next week.
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It is never a happy day for the Fed when GDP is revised down and inflation is revised up.
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He's thinking about legacy building at this point and the one thing he doesn't want to do is leave at the top of an immense bubble and have it burst soon after he leaves. He kind of touched on it yesterday in relation to the housing market.
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Clearly, reports of the housing market's demise have been greatly exaggerated.
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In terms of monetary policy right now, most people expect the Fed to tighten during the next two or three meetings, but it's foggy beyond that. Greenspan didn't really say much to clarify, either in his comments or in the question period. He was appropriately non-committal, and so there's been little reaction from stocks.
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The idea that the Federal Reserve is close to being done with interest rate hikes has certainly benefited the bond market, and stocks have benefited as well.