By the fourth quarter, we'll have better clarity on the presidential election, we'll know more about interest rates, about how the transition of power in Iraq has played out, and hopefully, oil prices will be under control.
More Quotes from Jeff Kleintop:
Stocks are pretty flat, which I think is positive considering the litany of potential inflation risks mentioned in his (Greenspan's) testimony.Jeff Kleintop
Nobody wants to get ahead of things. The stuff that could happen later in the year could be creeping into things now, which is keeping us flatter than I would've liked.
Jeff Kleintop
Today (Wednesday), a lot of people are on the sidelines, but I think generally investors are beginning to return to the market after they were vacant in the first three weeks of the year, ... Mutual Fund inflows have shown that.
Jeff Kleintop
All of these things point to an improving environment for stocks, but the outlook for the year remains flat, ... I would think the SP 500 will trade in a range of about 1,075 to 1,125 until the fourth quarter.
Jeff Kleintop
The fact that inflation picked up and caused the Fed to keep raising rates was (partly caused by) a hurricane-related surge in energy prices. There was a lot of worry created around mother nature. It threw everybody for a curve.
Jeff Kleintop
Overall, following the statement, the market is fairly clear that the Fed will keep raising rates by a quarter percentage point at each meeting through the end of the year, ... What the market is less sure of is what impact this will have on the economy.
Jeff Kleintop
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