Anthony Chan
Anthony Chan
corporate earnings growing growth might wrong
Corporate earnings growth is slowing. Earnings might be growing at 9 to 10 percent, and that's still impressive. But they're going in the wrong direction.
amount companies earnings economic economy exaggerate growing high multiple pressure problem
The problem was that we had earnings growing at a high multiple of economic activity, and that wasn't right. There was a considerable amount of pressure for companies to exaggerate economic activity, but the economy was doing just fine.
average change dominated earnings gain length message small
When we see a change in payrolls that is dominated by a glitch in the seasonal factor, no change in average hourly earnings and only a small gain in the length in the average workweek, we know that the message is encouraging but not exhilarating,
decade earnings economic following looks mirror moderate poised recovery shallow short
The recovery of 2002 looks poised to mirror the recovery of a decade ago, with a moderate economic and earnings recovery following a short and shallow recession.
average becoming earnings fed figures price start tells truly vigilant
The average hourly earnings figures were truly the spoiler of this report, ... It tells us that the Fed may now have to start becoming more vigilant about upcoming price pressures.
earnings great
That's not as great as 2003 earnings growth, but still positive.
average believe continues earnings leading monetary overall pace report rise
The pace of average hourly earnings continues to rise at just a tepid pace leading me to believe that this overall report is a very monetary policy-friendly report.
circumstance early fed lows move moving prepared rates require seen since
What the Fed showed was that extraordinary circumstances require an extraordinary strategy. Not only are they moving rates to lows not seen since the early '60s, they're prepared to move them a lot lower.
bad coming creating employment few news percent
We will see more bad news on the employment front. We see unemployment going to 6.1 percent or 6.2 percent before it's over; no way are we going to see that coming down while we're creating so few jobs.
claims confirm fact improve notion numbers sometime
These claims numbers confirm the notion that things may improve sometime in the future. The fact that we didn't go over 400,000 was very encouraging.
boost current economic energy low overall positive prices results serve suggest
These results suggest that the current low energy prices should serve as an important and positive boost to overall economic growth.
aggressive approach bit cold economy grow market maybe quickly rate realize stock worried
The stock market didn't want the economy to grow too quickly because they were worried about aggressive rate hikes, ... They wanted the Goldilocks approach where everything was just right. But now they realize that maybe the porridge is a bit too cold for their taste.
continued despite fed greenspan improvement inclined labor latest market might move neutral remain risks small suggest testimony towards
The small improvement in labor market conditions, despite the continued risks that remain on this front, do suggest that even with all the caveats that Greenspan echoed in his latest testimony ... the Fed might be inclined to move towards a neutral risk bias.
energy number prices prospects rates rising taking toll
The significant number of headwinds such as rising energy prices and the prospects of rising short-term rates are taking their toll on the economy,