Art Hogan
Art Hogan
certainly expected happen last points thousand
We expected it to happen by the end of the year, certainly not in the first quarter. The last thousand points have really been at breakneck speed.
points reaction seeing
We were up more than 100 points yesterday, so you're seeing a reaction to that today,
basis current data lower points signs terrific trend
I think the Fed's going to lower by 25 basis points and I think the trend is going to show stabilization and a pick-up in growth. The current data is not going to look terrific but there will be signs of stabilization.
basis employment gains high kept levels mean next points quarter
If the high levels of employment aren't kept up with the high levels of productivity gains that we have been making, (the Fed) will probably need to do something pro-active and that would probably mean 25 basis points now and then something in the first quarter of next year.
basis cares consensus credible equity estimate fact fed five last march ourselves percentage points six talked trading tumultuous
I think 50 basis points (one-half percentage point) is a credible consensus estimate for what the Fed does (at its March 20 meeting). Unfortunately, over the last five or six tumultuous trading days, we've talked ourselves into the fact that the Fed cares about equity valuations, but that's not the case.
calling focus forward great growth intensive looking news people period question revenue robust week
We're going through a very news intensive period this week and the focus of all of that is slowdown of revenue growth going forward, but we're probably overreacting, ... We get great numbers, but looking forward we don't have the robust growth -- so people are calling into question valuations.
consensus helps overall quarter season second upbeat
The season started upbeat and that was terrific. That helps the overall consensus that the second quarter (reports) will be rosier.
ahead calendar earnings fourth good lining looking major market people quarter range second third upsets
The second quarter is lining up to be another good quarter but people are looking ahead to the third and fourth quarters. Barring any major upsets on the earnings calendar I'd say the market is pretty range bound.
clinical dangerous goes investment issue negative sector showing trial
The whole issue goes a long way in showing how dangerous an investment the sector is, ... You can have one regulatory setback, one clinical trial or negative development for a drug, and you see this kind of impact.
beginning ideas
The winnowing down of ideas is beginning to happen.
absolutely air breath fresh needed terrific
These are terrific numbers, absolutely great, a much needed breath of fresh air for the equities market.
meeting rhetoric
The rhetoric from the meeting will be the most important catalyst,
death rumors
The rumors of the Dow's death has been much exaggerated,
news rallying
Arguably, Nokia's news isn't good, ... If we were rallying on Nokia, it was a little questionable on its reasoning.