Michael Carty
Michael Carty
Michael Cartywas an Irish Fianna Fáil politician. Born in Loughrea, County Galway to Lawrence and Josephine Carty, he was the eldest of seven children. A schoolteacher by profession, he was first elected to Dáil Éireann as a Fianna Fáil TD for the Galway South constituency at the 1957 general election. From 1961 to 1969, he represented the Galway East constituency, and from 1969 to 1973 the Clare–Galway South constituency. He retired from politics in 1973...
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Stocks rose sharply after the Fed cuts in the first quarter of 2001. So Fed action now could help.
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This stalling is likely to continue as we get through this period. But in early to mid April, you could start to see stocks move higher as the earnings reports start coming in and they prove to be positive, as the economic news continues to be strong and as the issues that are going to determine the election become more clear.
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The most prudent position for any investor right now, ... would be to be buying on the dips, particularly those attractive technology stocks that are selling at something of a discount.
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I like AutoZone because it's got a rate of return on equity, somewhere in the neighborhood of 40 percent, ... It's got a great franchise. As the auto stocks get older and retail sales for autos are off a little bit, it means that the stock will get older and you have to repair your cars. And they're getting into the diagnostic lines, which helped.
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In most election years, stocks are up. But when you think about the kinds of policies that are going to be implemented, the market gets a little worried. So, I would say up until the election you will see some very interesting dynamics. If they feel that a demonstration is favorable, drug stocks will get in then and all of a sudden the drug stocks will start looking hot. If the economy seems to be moving along nicely the high-tech new economy-type stocks will continue to do well,
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The challenge for stocks next week is going to be getting through more Iraq news.
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We've been somewhat concerned with transportation companies, trucking, mainly because of the fact that we're not in a very strong economic recovery.
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These concerns are going to keep us from going too high. The general trend is up, but it won't make investors euphoric, at least until after the election.
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These companies wouldn't be making these deals if they didn't have cash and if they didn't see strong economic growth ahead, so the deals are positive for sentiment.
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Earnings continue to remain strong, even for the technology companies, so I think, with the Federal Reserve saying we're afraid of a recession more than inflation, you're seeing bargain hunters coming in.
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First off, Microsoft does have a good product mix, ... It has a five-year earnings growth rate, which is somewhere around 15 percent because it is a giant after all.
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Right now the general direction is up and that's because of the economy. But there is still a tremendous amount of skepticism about analysts' forecasts and the ability for corporations to repair profits that could challenge us next week.
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Because inflation is modest, and worries about that are starting to diminish, I think the focus will turn to earnings, and the earnings are going to be very strong.
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Tech has been so weak for so long that no one wanted to touch it. But people are looking at it again. Although the tech picture looked bleak for the last three years, people are seeing that there are going to be survivors, the leaders in the sectors.