34 Quotes by Paul Nolte

Few companies are pounding the table and saying things are terrific so there's not the wild enthusiasm you would expect with a good earnings season,

So what is an investor to do? Based on Friday's response, it may yet be a long dark winter.

The upgrades are certainly helping Intel and Exxon, and that's boosting the Dow.

Already the futures markets are pricing in another rate hike and talk about a 5.0-plus fed funds rate is making the rounds. The currently inverted yield curve may also be a signal to the Fed that the economic growth of the past couple of years may be waning and any added tightening may be like kicking a good man while he is down.

The numbers are good from the Fed's perspective, even with November's ramped up numbers. Job growth is still slow and wage pressure has been nonexistent all year. If trends continue it could put pressure on the consumer. We may see the Fed have one more rate hike and then (be) done.

Stocks have had a real tough time maintaining gains this whole week. When we start taking a look around, gains tend to evaporate. Today, investors are looking at tech leaders. Those stocks are where the weight is being carried.

The ISM report did have a big impact on the markets, and part of the reason is that the economy is now more of a service economy. And services are going to be much more directly and more immediately impacted by the higher energy prices we have seen.

I know people are focusing in on the dollar, but if we take a look at last week's strong action, our view at least, is that the underlying economy does not warrant it.

If you look at the difference between PPI and CPI, the numbers have been in favor of PPI. What that means is that corporations are still struggling to pass through price hikes. We should see margin pressures on corporations through the rest of the year.