The productivity numbers today (Thursday) and tomorrow's (Friday's) report do nothing to support a bullish market, ... I would be concerned if we saw the unemployment drop below 4 percent because that would show the economy is not slowing down.
More Quotes from Barry Hyman:
The market is waiting to see the earnings because that is your first catalyst in the market that can possibly dispel the slower-than-expected growth that the market is anticipating. The market is very split today. People are just looking for reasons to own some things and reasons to sell others.Barry Hyman
I don't think the Fed looks at the equity market and makes decisions off the equity markets, but the equity markets are absolutely a reflection of wealth and consumer confidence, ... That is what the equity markets mean in relation to other economic scenarios and that is where (the Fed's) interest is.
Barry Hyman
There's a lot of pre-Fed buying, ... There's this insane belief that the Fed's going to move more than a half-point and that's what's powering the Dow, because you have a lot of cyclicality in that index and they are certainly beneficiaries of any severe interest rate cut.
Barry Hyman
I think it's the pattern from pre-announcements to earnings these are two companies (Motorola, Yahoo) that have beaten lowered expectations, beating pre-announcements. When you expand that to the Microsoft story, it makes it even more powerful today.
Barry Hyman
Next week's retail sales numbers and inflation numbers are going to be some key statistics to give us a little bit more input into where the Fed stands.
Barry Hyman
The market is clearly divided right now. Those who are looking at 2005 expectations think we can see moderate stock gains, those who are looking out at 2006 are more concerned.
Barry Hyman
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