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.
More Quotes from Hugh Johnson:
The good news was good enough to more than offset the worries about wages and Federal Reserve policy. There is an emotional component to the market today. Some speculative spirits are starting to stir.Hugh Johnson
Clearly the Federal Reserve is getting what it wanted with six interest rate increases.
Hugh Johnson
There have been a lot of high-profile companies taking a lot of extraordinary drops. When things go south for a company, they really go south.
Hugh Johnson
The question is when will the earnings recovery begin and how strong will it be.
Hugh Johnson
Shell Oil has made an offer to Barrett, ... I think they're going to have to make a higher offer to buy the company.
Hugh Johnson
Their (Exxon's) profits were very strong, and December personal income was higher than forecast.
Hugh Johnson
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