Paul Nolte
Paul Nolte
certain coast colored confidence consumer gulf helping increased low number speech spending surprised terribly
To a certain extent, Bush's speech about increased spending in the U.S. Gulf Coast is helping the market. I am not too terribly surprised that consumer confidence is low because the number is colored by Katrina.
adding chasing coming commodity economic fall focused inflation investors market numbers reacting rest trading until weaker
Investors are chasing commodity prices. Until we fall even lower, though, we're still in a trading range. We'll be very focused on inflation for the rest of the week. Economic numbers are coming a little weaker lately, adding to why the market is reacting poorly.
difference favor margin means numbers pass pressures price rest struggling
If you look at the difference between PPI and CPI, the numbers have been in favor of PPI. What that means is that corporations are still struggling to pass through price hikes. We should see margin pressures on corporations through the rest of the year.
continue fed good growth hike job numbers pressure rate slow trends wage
The numbers are good from the Fed's perspective, even with November's ramped up numbers. Job growth is still slow and wage pressure has been nonexistent all year. If trends continue it could put pressure on the consumer. We may see the Fed have one more rate hike and then (be) done.
continue driving economic markets numbers remain
The economic numbers are driving the bus. As long as the numbers remain kind of weak, if it doesn't look like we're getting much of a turnaround, then markets can continue to slide.
crazy expensive
We went from being expensive 10 years ago to crazy expensive, and now we're back to just expensive.
context declining percent rally within
We could see a 3 to 5 percent rally and still be within the context of a declining market,
competition energy higher prices providing rise struggling
We're struggling with higher energy prices and also the rise in bonds, which is providing some competition for stocks.
aging coming concern expense fact integral keeping looking patents population possibly
There is some concern over drugs coming off of patents and the expense of those drugs, and in some cases, such as with Pfizer and Merck, the efficacy issues, ... But we still can't get away from the fact that we're looking at an aging population and drugs are an integral part of keeping us going as long as we possibly can.
erosion expect gradual movement sharp stocks
I don't expect to see a sharp movement in stocks -- it will be a gradual erosion over time.
attention economic paying phenomenon worth
But that's more of a short-term phenomenon than anything worth paying a lot of attention to, ... it's going to come down to better economic numbers.
carry companies couple earnings gas large news ran
We ran out of gas after yesterday's large advance. We only had earnings news from a couple companies today, and that couldn't carry us.
game gives late loaded process putting running sentiment side top
Right now sentiment is all loaded on one side of the market. It gives you the idea we're running late in the game -- we may be in the process of putting in a short-term top in the market.
additional broken commit dollars trading
We may have broken out of our trading range, but we would like to see some follow-through before we commit additional dollars to the market.