Stuart Hoffman
Stuart Hoffman
among capital orders quite reflects report spending
When you take out transportation, the report should look stronger. In total, manufacturing orders are quite strong, and that reflects a lot of capital spending going on among businesses.
positive quite report strong ultimately
I think the report was quite strong and will ultimately be positive for stocks.
absence broad economy good inflation lower noticeable problem report steady
It was a good report right through. As you look through the report there is a noticeable absence of inflation on a broad basis. The numbers, if anything, are steady to lower on inflation and show that it just isn't at all a problem for the economy or the Fed.
best combine couple final heard holiday increase november reports season seen since weeks
We've heard some disappointing reports about the final couple of weeks before the holidays, so we won't see as big of an increase in December, ... but when you combine November and December, this is about the best holiday season we've seen since 1999.
activity appears cool general moved output parts relatively report solid stronger summer unlike utility
The report is stronger than appears on the surface. Unlike other parts of the economy, manufacturing activity moved up, so I would say in general this is a pretty solid report. Utility output was down probably because of the relatively cool summer we had.
below economy fed federal funds likes number raise rate recognize report target weak
This is a very weak number and well below what everyone expected. It's not the kind of report the Fed likes to see, but I think they'll recognize that the economy is already rebounding and raise the federal funds target rate to 4.5 percent.
bond fed looking markets report seeing signs stock strength
The stock and bond markets are looking at the report and seeing the signs of strength, and they know the Fed is doing the same.
ballgame innings second
We're still in the first or second innings of the ballgame of replacing Greenspan. But it's not like the game hasn't begun.
entered jury question seems
There is no question that we've entered a new era. The question seems to be how long it will continue, and the jury is still out on that one.
biggest captured center certainly energy increase prices stage
The CPI captured the center stage as it's the biggest one-month increase in 25 years, ... We certainly know why, with energy prices having skyrocketed.
economy effects expect last oil shake
Our forecasters expect the economy to shake off the effects of last year's hurricanes and surging oil prices.
fact good market solid vanilla
Overall, this was kind of a vanilla report. These are solid numbers, but the market had already absorbed the fact May was a good month.
coming confirmed data hike march market possibly pricing rate terms
I think he was signaling to the market that yes, there is another (quarter-point) rate hike coming in March and possibly in May, but that will be data dependent. He essentially confirmed what the market has already been pricing in, in terms of rate hikes.
both favorable main number previous street wall
I thought it was a very favorable number for both Wall Street and Main Street, particularly paired with the upward revisions to the previous two months.