David Briggs

David Briggs
David Briggswas an American record producer best known for his work with Neil Young and his band Crazy Horse. He is noted for his eclectic imagination and style, which contributed to the Neil Young album After the Gold Rush...
ProfessionMusic Producer
Date of Birth29 February 1944
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The stock market rallied late last year and early January because people thought we were near the end of the rate cycle, but now they're less sure.
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The stock is down 40 percent from its high, ... It's a very good buy, and the company just dominates the industry.
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Earnings are a mixed bag, but it seem like tech stocks are starting to turn the corner.
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Tech stocks have done better recently, so it could be some profit taking.
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Everyone thinks stocks are okay, the economy is okay, but markets have been lower since the beginning of the year. People are waiting for a reason to make a move. They want to act on an event, like the earnings that are coming out or the upcoming Federal Reserve meeting.
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Stocks have basically been predicting the economic slowdown since January and we've seen that anticipated weakness in the recent numbers.
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It's frustrating right now because everybody says that stocks look relatively cheap yet everyday the market bounces around. Everybody is looking for the next hurdle. People are waiting to see what the earnings look like, and that seems to be the key driver in the current market.
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You don't want to sit here going long with stocks and have something happen over the weekend.
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Last week we were looking for three things: for cash to flow into mutual funds, tech stocks to do better and the market to end above 1,200. We got them all, so we were anticipating a good day today.
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Look at Philip Morris. Its stock value was depressed for a long time on litigation risks, but after all these years the value has finally come through.
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The S&P lost 50 points last week and today we gained back four. This is not great.
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Things look good, but I don't think the markets will really go anywhere until after we get a better read on the course of the economy and earnings.
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Early next week you've got a trade deficit number and retail sales, and those reports could be volatile.
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Every time the market pulls back, people come back into the market. I think the real driver is there's no return holding cash.