The stock market has been closely connected to the bond market in the last two weeks, and today's stabilizing interest rates is probably the No. 1 reason behind the gains.
More Quotes from Hugh Johnson:
That's pretty good news because it means investors did not become defensive. They remain optimistic,Hugh Johnson
I tell my clients to look at the market once a week. It does a lot for your judgment if you take away the day-to-day swings.
Hugh Johnson
Everybody's looking for every single data point that can possibly give them an edge in their analysis. I've seen folks put together a ratio of stock prices to weekly jobless claims, suggesting it's a leading indicator. That's preposterous, but there's an urge to move in that direction, to find every leading indicator you can get every day.
Hugh Johnson
The fundamental premise in this business is you cannot be stuck in this business. You can buy stocks for the long haul, but if the market breaks down, you're going to suffer. You're going to pay for it.
Hugh Johnson
When it appears as though the governors of the Federal Reserve believe that the end of the rate increases is near, that's very good news for investors. A lack of ambiguity from the Federal Reserve is always a little bit of a shocker.
Hugh Johnson
Frankly, Yale Hirsch attaches more significance to this than he should, ... Sometimes it the market does well in an election year and sometimes it doesn't. The real question is what is it going to do this time.
Hugh Johnson
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