Stuart Hoffman
Stuart Hoffman
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.
bottom building conclude continued easy fed line pressure solid
The bottom line is it is a very solid report, but with continued inflationary pressure building up, it will make it easy for the Fed to conclude (Tuesday's meeting) with a quarter-point increase,
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.
confident economy half impact momentum months solid three wondering
The economy is regaining momentum and will have a very solid first half of the year. We all feel more confident than we did three months ago, when we were still wondering about the impact of the hurricanes.
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.
building markets
There will be some uncertainty in the markets building up at the end of the year. There will be some jitters.
adapting aggressive among benefits business care continued costs counter energy health higher increases interest mean next outlook owners prices profits results sales six stable steps taking
The results show a stable outlook among business owners for their own sales and profits during the next six months, which suggests they are adapting to higher energy prices and interest rates. Many, however, are taking aggressive steps to counter continued increases in costs for employees' health care coverage, which could mean reductions in benefits for some employees.
keeping wages
People's wages are going up, but they are not keeping up with inflation.
bit comfort core drew people
People drew some comfort in the smaller-than-expected core index, but I think the core is a bit deceptive.
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.
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.
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.
economic expected great growth helping inflation less strong
Growth is stronger, but inflation is less, so it's still that great combination of strong economic growth with even less inflation than expected that's helping bonds.
aftermath bad hurricane katrina saying
If we hadn't had Katrina we'd be saying what a bad hurricane (Rita) was, but in the aftermath of Katrina we're saying, 'Boy, aren't we lucky,'