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
continues declines excuses investors market modestly money phase stock surprised using variety
The stock market has become modestly overvalued and investors are using a variety excuses to take money off the table. I wouldn't be surprised if the current, corrective phase continues and the market declines another 5 percent.
additional along clear continue difficult economy energy federal higher interest passed pressure prices raise reserve strong
It's very clear that higher energy prices are now being passed along to consumers, and it's not difficult to do that when the economy is as strong as it is. This will put additional pressure on the Federal Reserve to continue to raise short-term interest rates.
across board continued economy employment expanding expansion indicate leading numbers
The numbers across the board were pretty surprising. I would say that improvements in the leading indicators of the economy, like the employment and manufacturing numbers, is very encouraging and indicate that the economy is expanding and not contracting. It also suggests continued expansion into the first quarter.
continued definitely second trend
That's only the first quarter, and the trend definitely continued in the second quarter.
continue winner
It's been a big winner for us and I think it's going to continue to be a big winner,
believe continue convinced earnings fed foot growth interest investors migration rates reduce reflection toward until value
It's a migration toward value as a reflection that investors believe the growth rates of earnings are slowing. It will continue until investors are convinced that the Fed will take its foot off the break, or reduce interest rates.
conditions continue detail earnings improved likely market seeing showing
What we're seeing from Lehman is that market conditions improved through the summer, and that conditions are likely to continue improving. That's showing up in the earnings and in the detail of their reports.
continues economy fourth labor markets ongoing pressure quarter time
It confirms that as we started the fourth quarter the economy continues to slow, ... At the same time that the economy is slowing, there is ongoing tightness in the labor markets and ongoing upward pressure on wages.
caution continue driven employment market
Tomorrow, the market will probably continue upward driven by the dollar, but it won't go up much because of caution before the employment figures.
consumer continue debt higher interest levels rates second spending term third
Long term interest rates are higher now than they were in the second and third quarters, and debt levels are higher too. Yes, consumer spending will continue to expand, but it will be slower.
chance continue earnings economy good growth investors rate safer segments
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.
continue federal housing interest knows low market policy possibly raise rates reserve starts worried
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.
globe markets worry
When all of the markets around the globe simultaneously go down, that's the message. That's what you have to worry about.
almost bet fed move raise rates sure
It was almost a sure bet that the Fed was going to raise rates in June. Now it's almost a sure bet, say 50-50 at least, that they won't move in June.