The underlying tone is still weak.
More Quotes from Brian Fabbri:
So consumers feel happy but they are beginning to become a little less happy about gasoline price increases. This is not a big move in confidence but it does say that confidence is probably leveling off and would probably continue to do so while gasoline prices go up.Brian Fabbri
There is no doubt that the street was expecting the worst and they were prepared for the worst. Once the numbers came out a rally ensued and it trickled over to the equity market... The domestic economy is just honey.
Brian Fabbri
The markets have clearly responded to Greenspan's testimony, ... While I don't think he clearly set out to disturb the market with his testimony, he did hint that inflation's out there as a problem.... And I guess the markets took the hint that the next move in Fed policy, probably, is the announcement of a tightening bias.
Brian Fabbri
The message of solid growth and inflation at the top end of the comfort zone may mean that the Fed is keeping all its options open, but that more tightening 'may' be required, and that the data will decide.
Brian Fabbri
Christmas spending this season is likely to outperform most analysts middling expectations.
Brian Fabbri
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