108 Quotes by Timothy Ghriskey
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The market can find something good and something bad in every economic number. If the number is strong, that's a positive, but if its really strong, people may worry about interest rates.
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We're seeing a pullback really just from yesterday.
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The main thing is the economic news looks like its steadily improving and that should continue to help stocks.
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The impression is that corporations are being increasingly cautious in their projections for the first quarter, which is a trend that you've seen for the last few quarters. I think the companies are taking current economic and business conditions and projecting them onto the future earnings, rather than incorporating the impact the improving economy might have on earnings.
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We're seeing a little selling today, but I think it's important to remember that we just hit an 18-month high on the Dow, and so we're going to see a little pullback short-term.
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The Dow continues to outperform, ... This cyclical bias has been pretty consistent the last two weeks, with the exception of yesterday, when technology was participating, too.
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What we'll be focused on in early January will be more reports on how the holiday season went for retailers.
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The Dow and S&P are down because of Pfizer and the pharmaceutical sector, and oil is still a factor. But the indexes are not down as much as you might think they would be, which to me shows some underlying strength is still in place.
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The CPI number this morning sparked a rally in both stock and bond markets. But beyond the initial reaction, I think we're going to remain stuck in this range until other issues get resolved.
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