Although the expectations we've been hearing indicate a prolonged decision, the markets are telling us that the election will be resolved quickly.
More Quotes from Hugh Johnson:
You had a pretty good move in biotech this year, and biotech really has quite frankly lifted the health care and the drug stocks recently because investors have become somewhat defensive -- say in the last month or so -- and have also, on a relative basis, performed fairly well.Hugh Johnson
If there's no bounce, it's investors saying that the market has not reached a level that accurately reflects what's ahead for the economy and earnings.
Hugh Johnson
Everybody is going to know the same, but it's going to be less. The disclosure of information becomes more carefully managed than the Federal Reserve manages the disclosure of information.
Hugh Johnson
I get worried about so much optimism and the fact that the market is overvalued,
Hugh Johnson
Something has got to give, ... Crude prices will have to come down or there will have to be some assurance on interest rates before the market will be energized.
Hugh Johnson
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.
Hugh Johnson
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