Stuart Hoffman
Stuart Hoffman
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.
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.
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.
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.
positive quite report strong ultimately
I think the report was quite strong and will ultimately be positive for stocks.
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.
business concern energy factory major pressures prices quite
While energy prices are a major concern and price pressures are in the factory pipeline, business is still quite good.
alive good job market news shows
It's a very good report. That's good news post-hurricanes. It shows us the job market is alive and well.
cents claims gasoline spite squares
This is in spite of gasoline rebounding 10 to 15 cents in January. This also squares with the jobless claims data.
benign clean consumer earlier fell inflation learned month morning prices producer relatively sweep wages yesterday
Inflation, it's been a clean sweep for July. We learned earlier this month wages were unchanged, yesterday producer prices fell again, and this morning you're right on the money, relatively benign consumer price inflation report. No problem.
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.