Stuart Hoffman
Stuart Hoffman
fact good market solid vanilla
Overall, this was kind of a vanilla report. These are solid numbers, but the market had already absorbed the fact May was a good month.
activity appears cool general moved output parts relatively report solid stronger summer unlike utility
The report is stronger than appears on the surface. Unlike other parts of the economy, manufacturing activity moved up, so I would say in general this is a pretty solid report. Utility output was down probably because of the relatively cool summer we had.
bottom building conclude continued easy fed line pressure solid
The bottom line is it is a very solid report, but with continued inflationary pressure building up, it will make it easy for the Fed to conclude (Tuesday's meeting) with a quarter-point increase,
confident economy half impact momentum months solid three wondering
The economy is regaining momentum and will have a very solid first half of the year. We all feel more confident than we did three months ago, when we were still wondering about the impact of the hurricanes.
positive quite report strong ultimately
I think the report was quite strong and will ultimately be positive for stocks.
economy effects expect last oil shake
Our forecasters expect the economy to shake off the effects of last year's hurricanes and surging oil prices.
coming confirmed data hike march market possibly pricing rate terms
I think he was signaling to the market that yes, there is another (quarter-point) rate hike coming in March and possibly in May, but that will be data dependent. He essentially confirmed what the market has already been pricing in, in terms of rate hikes.
both favorable main number previous street wall
I thought it was a very favorable number for both Wall Street and Main Street, particularly paired with the upward revisions to the previous two months.
businesses capital economy faster growing internal mergers turn
When the economy is growing faster and businesses want to replenish inventories and make the kind of capital expenditures, mergers and acquisitions that outstrip their internal financing, then they will turn to banks.
federal reserve work
What it does show is that the Federal Reserve has more work to do.
available base believe business capital conditions continue diverse economic economy favorable footing further growth healthy highly industries investment leave mean presence research rising role technology venture
We believe economic conditions in 2006 will be favorable for further growth in southwestern Pennsylvania's technology industries. Rising business confidence, healthy growth in business investment spending, and increasingly available venture capital will leave our region's technology industries on firmer footing in 2006. A highly diverse technology base and the presence of world-class research institutions mean that, over the longer-term, technology will continue to play an increasingly significant role in the economy of southwest Pennsylvania.
among capital orders quite reflects report spending
When you take out transportation, the report should look stronger. In total, manufacturing orders are quite strong, and that reflects a lot of capital spending going on among businesses.
entered jury question seems
There is no question that we've entered a new era. The question seems to be how long it will continue, and the jury is still out on that one.
ballgame innings second
We're still in the first or second innings of the ballgame of replacing Greenspan. But it's not like the game hasn't begun.