David Joy
David Joy
affected costs either fact fought higher impacts interest markets offset rates result rise
The fact that long-term rates didn't rise in some sense offset some of the impacts of the higher costs of energy. They fought to a draw, and as a result the markets weren't affected by either interest rates or energy.
circumstance fed gets inflation labor market pressure rising wage
The labor market is important to the Fed under any circumstances. Once you get rising wage pressure that's when inflation gets intractable.
afraid fed mark question time
The Fed has been the big question mark for the market. I'm afraid the Fed is not going to get out of the way any time soon.
clear concerns data economic gains higher interest investors markets oil pushing rates rising scenario support sustained weak
Higher oil prices, concerns about rising interest rates here and in Europe, and weak economic data are all pushing the markets down today. The scenario is not clear enough for investors to support sustained gains in stocks.
assumes bit fed language market might raises situation
You might have a situation where the Fed raises rates, modifies the language a little bit but intends to keep on going. If the market assumes that it's one more and done that might be a misread.
events fed gorilla hear market meeting next results sort tread until water
The market is going to sort of tread water until we hear the results of the (Fed) meeting and what the Fed has to say about their decision. That's the 500-pound gorilla of events next week.
ahead immediate itself market optimistic rate sideways
The market got a little optimistic and ahead of itself anticipating the end of rate hikes. The market will churn sideways for the immediate future.
both candidates cutting deficits dollar economy equal growing half lowering opposed plan proposing roughly seem
Both candidates seem to be proposing roughly equal deficits over time. Both plan on cutting it in half but doing it by growing the economy as opposed to lowering the dollar amount.
bonds boost clearly consumer flight horizon price producer reports
Bonds clearly got a boost from the flight to safety. But looming on the horizon are the consumer and producer price reports and the CPI is going to be the most important,
cap far money move moving stocks
It doesn't take a lot of money moving into these stocks to move them higher. But valuations will put a cap on how far things will go.
falling inflation next pressure prices reason rising year
Part of the reason we see inflation rising next year is the dollar. Clearly, there is upward pressure on prices because of the falling dollar.
call democratic direct impact platform proposals stock tax
Some of the tax proposals that are part of the Democratic platform do call for the rollback of dividend tax cuts. That has a direct impact on the stock market.
hurricane
We'll see what impact, if anything, the hurricane had on them, and it may be a harbinger.
consumers energy high higher lost oil pay prices though
The persistence of high oil prices can't be lost on the Fed. Consumers have to pay for higher energy even though it's volatile. It is a real cost.