The Goldman Sachs news seemed to re-energize the bull market.
More Quotes from Hugh Johnson:
The conditions for the restarting of the bull market, or the start of a new bull market, which is how you should look at it, those conditions do not exist. Not yet, and that's why the markets went down yesterday despite what the Fed said,Hugh Johnson
The market is not doing well. At long last, it is doing what it should do in responding to the rises in interest rates.
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
Like any indicator, whether it's the Super Bowl or anything else, it's sometimes right and sometimes wrong. It's just not very rational to conclude that if January is a bad month, the market will have a bad year.
Hugh Johnson
Long term interest rates are higher now than they were in the second and third quarters, and debt levels are higher too. Yes, consumer spending will continue to expand, but it will be slower.
Hugh Johnson
The markets are moving to more reasonably reflect expectations for what lies ahead in 2005.
Hugh Johnson
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