The durable goods numbers are telling us that businesses are spending money, and that the outlook for the economy is solid. And after last week, the earnings numbers are encouraging. So we're seeing a good bump today.
More Quotes from Hugh Johnson:
I don't worry about volatility. I worry about down .Hugh Johnson
Common sense alone says energy is not going to be the leader.
Hugh Johnson
The biggest risk in 2006 is that the Fed will be seduced by worries about inflation into raising rates too high. A lot depends on what the 10-year does and while I would hope that they would take notice that it's going down in yield, the question is whether they will take it seriously or dismiss it.
Hugh Johnson
There's no news, nothing I see on the immediate horizon, next week, that would shake the market out of its current malaise or end the summer doldrums. There are so many things to worry about, and investors are therefore sitting on their hands, not making any new, major commitments.
Hugh Johnson
The question is when will the earnings recovery begin and how strong will it be.
Hugh Johnson
If you're going to bet on economists and strategists on one hand, and the markets on the other, take the markets every time.
Hugh Johnson
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