Hugh Johnson
Hugh Johnson
Hugh Johnson OBEis a British author and expert on wine. He is considered the world's best-selling wine writer. His 1961 tasting of a bottle of 1540 Steinwein from the German vineyard Würzburger Stein is considered to potentially be one of the oldest wines to have ever been tasted...
ProfessionNon-Fiction Author
Date of Birth10 March 1939
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The market is worried that the Federal Reserve will continue to raise interest rates well into 2006 and possibly make a policy mistake. If you look at housing starts they're very strong. Everyone knows the unemployment rate is low and the Fed is uncomfortable with that.
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The markets are moving to more reasonably reflect expectations for what lies ahead in 2005.
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The markets are getting a little nervous . On balance, investors want to see this president and the tax cuts preserved.
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The market is not doing well. At long last, it is doing what it should do in responding to the rises in interest rates.
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The market is asking the question, given oil prices, given rates, given China's economy and other things, what does it look like for the economy and corporate profits in the fourth quarter and in 2005? The message we got last week was that it's probably not going to be as great as everybody once expected, but it will still be just fine.
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The main reason that Alcoa is cheap is that all of the stocks in basic materials are cheap,
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The Goldman Sachs news seemed to re-energize the bull market.
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The economy and the growth rate of earnings will slow, ... There's a good chance that investors will continue to do what they've always done. They will migrate to the safer segments of the market.
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The earnings picture is really good now, but, you know, enjoy it while it lasts. Third and fourth quarters of this year are going to be much, much tougher earnings seasons, primarily because analysts are not reducing those estimates and the comparisons are going to be very, very tough,
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The earnings have been pretty good so far, but there's an ambiguity in the market about them, because you'll see Amazon or Microsoft disappointing and then others beating.
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The durable goods numbers are telling us that businesses are spending money, and that the outlook for the economy is solid. And after last week, the earnings numbers are encouraging. So we're seeing a good bump today.
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The gains in those sectors is very good news. Investors are buying into riskier areas and it shows they're more optimistic about the economy and earnings.
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The gains in those sectors is very good news, ... Investors are buying into riskier areas and it shows they're more optimistic about the economy and earnings.
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The fundamental premise in this business is you cannot be stuck in this business. You can buy stocks for the long haul, but if the market breaks down, you're going to suffer. You're going to pay for it.