John Davidson
John Davidson
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The Federal Reserve's objective is two fold -- price stability and employment growth. All too often we think it's the Fed chairman's job to manage the stock market, when it's not.
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The capacity utilization and industrial production number are forecast to show modest improvement, the housing number won't be as strong as it has been, but it'll still be strong. However, none of these data due tomorrow are really market-moving. I think stocks may be set to drift the rest of this week and into the close of the year.
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The choice is between getting in now and risking near-term volatility or getting in later and missing a good portion of the market recovery,
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If you are looking for a sector that has good earnings, I think the energy sector is having increasing and improving earnings, as a result of the higher energy prices,
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If you're out of the market you need to be in the market if you're saving for your long-term retirement or for other elements, ... People have been waiting on the sidelines, not committing as much new money. I don't think you should be investing next week's rent check, but your long-term investment is going to really grow in the market, and technology will lead that.
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If you look out into next week, you've got the weapons report from inspectors due and the current view is that people may be reluctant to put money to work ahead of that.
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In recent years, the Fed has made a real attempt to be transparent, ... If they are going to change direction, they are going to signal it first.
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But I think people's focus next week is not going to be Wall Street, it's going to be the holidays. I think you'll see a modestly up week.
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I'm looking for a recovery in the economy in the second half of the year, contingent on a continued aggressive Fed and a tax cut. I see a consumer-led recovery in the second half and that will help give us an earnings boost.
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I'm more excited than in many years for what we are about to undertake. I'm looking forward to it. It's been an unbelievable season. I think we're in for a fantastic playoffs.
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If you wait until the volatility's gone, you're going to be buying at higher prices,
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The belief has been that if the economy is recovering and corporate profits are improving, equity markets will fall in line eventually,
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Taking everything into account, the market was multidirectional. It has a split personality,
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St. Thomas More is one of the premier programs in the state, and we're going to have to bring our 'A' game to stay on the field with them. It's going to be a crazy, insane game.