Larry Wachtel
Larry Wachtel
Larry Wachtelwas a stock, bonds, and equities commentator on the New York City metropolitan area radio. He added a populist flavor to his commentary on the stock market and spoke in a thick Brooklyn accent...
analyzed auto core couple deals inflation items markets numbers prices rate realized reason tobacco took
There were a couple of one-shot deals in the PPI -- auto prices and tobacco prices. If you took those two items out, the core rate was up 0.1. That's the reason why the markets have come back a little. I've analyzed the numbers and realized that this is not inflation out of control.
fed hurt means numbers stocks
It's a catch-22. If any of these numbers comes in too strong, it's going to hurt stocks because it means the Fed is going to keep hiking.
housing industrial johnson maybe numbers production reports tomorrow turn
Tomorrow (Tuesday) we get numbers on industrial production and housing and big reports from Intel, Coke, Johnson & Johnson -- maybe that can turn us around.
again bonds economic fell friday home main managers number purchasing report reporting softer today whacked
Today bonds rallied because of the softer new home sales. Yesterday, bonds fell because the purchasing managers report was too strong. Now we go to Friday and the non-farm payrolls, which is the main part of the economic reporting cycle, and if that number comes in too strong, the bonds get whacked again -- and so do the stocks.
again bonds economic fell friday home main managers number purchasing report reporting softer today whacked
Today bonds rallied because of the softer new home sales, ... Yesterday, bonds fell because the purchasing managers report was too strong. Now we go to Friday and the non-farm payrolls, which is the main part of the economic reporting cycle, and if that number comes in too strong, the bonds get whacked again -- and so do the stocks.
consumer earnings future numbers oil price psychology
The earnings numbers are still respectable, but they are softening. The psychology is that you can't make projections about future earnings without having some sense about where the price of oil is going and what the consumer will do.
arrival basic earnings problem quarter third week
The basic problem this week has been the arrival of third quarter earnings and the non response,
build case empire heard recently regional state street survey until waiting wall
These surveys give regional snapshots, and that's all they do. I'd never even heard of the Empire State survey until recently -- and I don't think you can build the case that Wall Street sits there panting, waiting for the results.
conditions dismal
It was a pretty dismal day. We're really in oversold conditions at this point.
bond competing due earnings economic hovering key morning news note oil weakness yield
The key this morning is the 10-year note hovering around a yield of 5%. This news trumps any economic or earnings data. It's a rate-driven market, even with oil competing for headlines. Any weakness we may see will be due to these bond yields.
asset mergers money people putting taking
The mergers helped, but you also had some asset reallocation, with people taking money out of Treasurys and putting it into equities.
closed delay hurt market microsoft ragged throughout tired
The Microsoft delay has hurt the Nasdaq and will reverberate throughout all of technology. That will be today's big headline. We closed ragged yesterday, so we're going to have a tired market to start.
continue hurdles interest major market oil quarter rates snap
The two major hurdles continue to be oil and interest rates on the Treasuries. The market has demonstrated through the first quarter that we can snap back.
certainly close intel market microsoft ok
The two biggies after the close (Tuesday) -- Microsoft and Intel -- were OK but certainly not a market turn-on,