The focus has been on earnings, and when you get something like Aetna, then that's going to help the market. But one of these days, that focus is going to shift to inflation and interest rates. And the Fed is going to have to get it absolutely right in order for this market to manage even small gains.
More Quotes from Hugh Johnson:
Common sense alone says energy is not going to be the leader.Hugh Johnson
Hugh Johnson, chief investment officer at First Albany, suggested that fear -- as much as fundamentals -- is driving the market to levels once considered out of reach. It's a vicious circle, ... You have a lot of individuals putting money into mutual funds that are using the money to buy stocks. You're simply afraid to be out of the market. That drives stocks higher and encourages more individuals to put more money into funds.
Hugh Johnson
The stock market has become modestly overvalued and investors are using a variety excuses to take money off the table. I wouldn't be surprised if the current, corrective phase continues and the market declines another 5 percent.
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
The markets are getting a little nervous . On balance, investors want to see this president and the tax cuts preserved.
Hugh Johnson
They the leading indicators have been rising for four successive months and given time, those (six) Fed rate cuts are going to kick in and we'll have better economic activity.
Hugh Johnson
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Based on Keywords: aetnaSomebody said to me this morning, 'To what do you attribute your longevity?' I don't know. I mean, I couldn't have planned my life out better. By all accounts I should be dead! The abuse I put my body through: the drugs, the alcohol, the lifestyle I've lived the last 30 years!
Ozzy Osbourne
Let's get on our knees and pray. I don't know to whom. Is there a patron saint of ballistics gel?
Adam Savage
This is no time for ease and comfort. It is time to dare and endure.
Winston Churchill