I see business spending recovering, but not in telecommunications or telecommunications equipment.
More Quotes from Hugh Johnson:
The price is down some, but it's clear that oil is at a level that raises serious questions about the U.S. economy and earnings going forward.Hugh Johnson
It confirms that as we started the fourth quarter the economy continues to slow, ... At the same time that the economy is slowing, there is ongoing tightness in the labor markets and ongoing upward pressure on wages.
Hugh Johnson
Technology stocks have been leaders for good reason. The economy is growing 3.5 percent per year, while spending on information-processing equipment is growing 19.1 percent a year, after inflation. And spending on computers and peripherals is growing at a 41.1-percent rate. Technology is reflecting what lies ahead for the economy.
Hugh Johnson
Obviously the situation turns very heavily on interest rates,
Hugh Johnson
That's the situation today, ... Since that's the case, I'd be more inclined to think this will be a negative year than a positive year.
Hugh Johnson
I think the yield has worried investors. Some investors believe that it's a signal that a recession lies ahead. I believe that is a faulty interpretation.
Hugh Johnson
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