What he's coming through very clearly and saying is we will probably pause soon but don't assume we're done because we pause. ... But I think the market is just reacting to 'Hey, hey, Ben said we might be done soon'. Whenever you take a little uncertainty out of the picture, well, the market is going to like that.
More Quotes from Jeff Kleintop:
It may be a little bit of a buyers' strike ... if we do get a strong (payroll) report tomorrow, it suggests the Fed is going to have to be more aggressive.Jeff Kleintop
When the economy is in recession, investors generally put their money into assets like gold, as opposed to buying assets like stocks, ... Gold is much more popular during recessionary times.
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
You still have a lot of uncertainty, and the jobs report tomorrow, which will set the stage for what the Fed could do. You're just not going to see a lot of buyers in the market ahead of 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
I think we're at a point where the data coming in is good and robust, but not strong enough to suggest things are overheating. The forward-looking data seems to indicate the same.
Jeff Kleintop
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