William Hummer
William Hummer
sector services showing starting wages
The services sector is showing some inflationary pressure, and wages are starting to climb.
appeal energy hold looking managers money previous sector stocks three
I think energy stocks will flatten or worse, ... I'm not looking at the sector to tank, but I don't think it will hold the same appeal for money managers as it has in the previous three quarters.
economic election fade forces held hostage news takes
There are a combination of forces which could be positive, on net. The market's been held hostage by the election and Iraq, and those may at least temporarily fade as preoccupations if better economic news takes hold.
entering period stock
We're entering a seasonal period now, pre-Thanksgiving, pre-December holidays, where we often see a stock advance,
advances amount change efficiency floor happy investors perception technology tremendous
There are a tremendous amount of investors who are very happy with the floor system, ... That is not to say that over years advances in technology and efficiency won't change that. My perception is that the change will be glacial, not abrupt.
accelerate activity balance business expect investment overall pace third trade
I expect there will be improvements in the trade balance and business investment and in inventories so that the overall pace of activity will accelerate in the third quarter,
affect corollary energy hurricane market moving poison question
Hurricane Rita, and its corollary affect on energy prices, is moving the market today, no question about it. Uncertainty is poison for the market.
although market performance reaction stock
I'd characterize third-quarter stock performance as disappointing and event-driven, although it was understandable why the market reaction was what it was,
continues earnings economy fed happen reflected second
If the Fed is right and the economy continues to expand, we'll see that happen and see it reflected in the earnings for the second half.
easing fed fixing flu global help major market prevent problems recession require sees shot temporary
We see the Fed easing as a flu shot that will help prevent recession in 1999, but fixing the global problems that underlie the markets' malaise will require major surgery. So basically, I think the market sees through this as a temporary boost, but there are fundamental problems that aren't yet resolved.
asian crisis earnings economists major sight trim
There's no end in sight as the Asian crisis will go on for years and this is having a major effect, ... It will trim earnings probably more substantially than many economists expected.
beginning economy momentum people since strength year
The strength of the economy since the beginning of the year has been an embarrassment to forecasters. There is much more momentum than most people recognized.
earnings fairly quarter received third
The third quarter earnings have been fairly well received and I think there will be anticipation that fourth-quarter earnings could be better than expected,
certainly core growth happening job oil price sharp subject variations
This is a disconnect; job growth is psychologically and practically the core of what's happening in the economy. In sharp contrast, the oil price is volatile. It's certainly not meaningless, but it's subject to so many variations that it doesn't have the same importance.