Michelle Clayman
Michelle Clayman
Michelle R. Clayman is chief investment officer of New Amsterdam Partners, LLC, a firm she founded in 1986. New Amsterdam Partners offers large cap and mid cap investment strategies to institutional investors. Clayman sits on the Boards of the Society of Quantitative Analysts, and The Institute for Quantitative Research. She is a frequent commentator for CNBC, Bloomberg, and other financial media. A graduate of Stanford University's Graduate School of Business, Clayman is the first woman to receive the School's Excellence...
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Negative pre-announcements are outpacing positive ones by a three-to-one margin -- and that's very high, ... The big question is whether the market can look through that. We expect consumer confidence will increase and business confidence will start to turn up as well.
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Economic data has shown us that we're not out of the woods just yet. We suspect that April too will be weak. ... What we need is a clear sign of economic activity picking up and companies willing to spend.
bottom drift people start
Things have been so gloomy, (but) now many people sense the bottom is here and we'll start to drift upward.
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Earnings have been pretty astonishing, but the market hasn't always responded to that. I think people are feeling better about tech earnings in particular, but we still have worries about interest rates and what that might do to the recovery.
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There's still a great deal of uncertainty. We've got a pretty worrying international situation. There is a decline in confidence in business leadership based on a few bad apples, and a certain complacence about the economic data.
due number
The run-up is probably due to a number of factors.
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Oil is remarkably high, but at least it's moving in the right direction.
continue seeing sun tech weakness
You're seeing some spillover weakness in Sun and the telecoms continue to waffle, ... There's still uncertainty about tech leadership.
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September tends to be the take-a-breather month, historically. I would guess the market over the next few weeks will be bound to a narrow trading range as companies begin to report earnings.
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A lot of the Nasdaq stocks had a tremendous performance last year and may have gotten ahead of themselves in the early part of this year.
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WorldCom (WCOME) selling off is no surprise, but it's certainly adding to the sentiment, and the drug companies are having problems as well,
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Until both the economic and corporate news start moving more consistently higher, you won't see another big move up for stocks.
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We started off with a bang yesterday, so it's not surprising that there would be a pullback. Plus, you had Home Depot's pre-announcement.
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GDP numbers could surprise a little to the upside, and that may be why the Fed said what it did. Confidence numbers could also be surprising, in light of recent reports.