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.
More Quotes from Barry Hyman:
People look for the summer rally, and people have always complained - well, what happened to the summer rally - not understanding that the summer rally started the day after Memorial Day. So we really have had a very good summer rally. In the Nasdaq, it went up almost 40 percent off of the bottom. The Dow went up around 12 percent off the bottom. The SP similarly. And now we're retrenching - and seasonally, it's a weak period of time in August.Barry Hyman
The lesson here is to maintain some modicum of cautious optimism. I think the trend is so important here and it's starting to be developed, ... But in light of everything, even if the Fed does back off, the thought of a 'hard' versus 'soft landing' is still going to be out there -- which is going to prevent outrageous gains.
Barry Hyman
It's time to start anticipating a recovery. Buy on weakness and look at tech because I think there will be some good stories later in the year the time to be fearful of another major drop in the market is just not there.
Barry Hyman
Earnings are coming in better than expected, and they're helping the market preserve the rally, but the overriding concern to me is high energy prices and what the Fed is doing.
Barry Hyman
I think, ... that Pfizer is going to benefit from their merger with Warner-Lambert. I think that makes a very good deal. But most pharmaceutical companies do eventually strike deals with biotech companies in terms of marketing their product. And the genomic companies don't have a lot of cash. They have a lot of high valuations, but they don't have a lot of dollars to spend. So, they usually look toward the pharmaceutical sector to help them out, which usually helps both sectors.
Barry Hyman
The 10-year bond looks like it's headed higher, so I think the feeling is starting to pervade Wall Street that economy's fine and interest rates are heading higher. But the market has (also) been choppy and struggling with some key technical levels.
Barry Hyman
Readers Who Like This Quotation Also Like:
It is true you cannot eat freedom and you cannot power machinery with democracy. But then neither can political prisoners turn on the light in the cells of a dictatorship.Corazon Aquino
Before you give up hope, turn back and read the attacks that were made on Lincoln.
Bruce Barton
Even a secret agent can't lie to a Jewish mother.
Peter Malkin