There's no news, nothing I see on the immediate horizon, next week, that would shake the market out of its current malaise or end the summer doldrums. There are so many things to worry about, and investors are therefore sitting on their hands, not making any new, major commitments.
More Quotes from Hugh Johnson:
To some extent everybody is a little exhausted. In the absence of big news we'll see a quieter day. It feels like we were hit by a tidal wave over the past three or four days and today is like the aftermath, picking up the pieces.Hugh Johnson
The earnings picture is really good now, but, you know, enjoy it while it lasts. Third and fourth quarters of this year are going to be much, much tougher earnings seasons, primarily because analysts are not reducing those estimates and the comparisons are going to be very, very tough,
Hugh Johnson
I don't think it changes anything for Federal Reserve policy. Various early warning signs of inflation are still telling us they have to raise interest rates by 50 basis points and they are likely to do so when they meet next week.
Hugh Johnson
There's been a great deal of turmoil, ... There's widespread bond market pessimism and at the other side of the equation, there's too much stock market optimism.
Hugh Johnson
The question is when will the earnings recovery begin and how strong will it be.
Hugh Johnson
It's very hard to make sweeping statements when it comes to technology.
Hugh Johnson
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Based on Topics: Media & News Quotes, Summer QuotesBut the word of the Gospel is not as the word of an earthly prince.
John Jewel
I'd say that what we hear is the quality of our listening.
Robert Fripp
I shot with it a lot. I still do now. That is why I am hard of hearing.
Mikhail Kalashnikov