While today's news is very positive, I think the market is likely to remain caught between very good economic data and the worry that things aren't going to get any better from here. I would expect us to continue being pulled back and forth in this trading range we've been in for most of 2004.
More Quotes from 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
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
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
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
An investment in the true cost of Christmas would have yielded a better return than the stock market over the past year. However, the true cost of Christmas hedge fund has yet to be created.
Jeff Kleintop
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.
Jeff Kleintop
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