The headline thing today is oil. It's within striking distance of a new high. It adds more fear about how much the economy could slow.
More Quotes from Jim Paulsen:
That certainly is going to fan a little inflation fear here, and going forward it will at least keep people on the watch a little longer on the idea that the Fed is going to keep tightening.Jim Paulsen
Thus far, the Fed seemingly has no bite. Normally, when the Fed has raised short-term rates, long-term yields have also risen. Not this time.
Jim Paulsen
One of the central characteristics of this entire global recovery is the outsized impact of these new economies. That's one of the reasons why growth has remained strong in the U.S. and profit trends have been remained positive, so if there is any inkling that we are at the front end of slowing that down, that's going to make a dramatic difference.
Jim Paulsen
On net this is not going to be a big event economically. People initially went to the big impact it was going to have, all predicated on the idea that oil was going to go a lot higher (than it has).
Jim Paulsen
Consumers are stepping aside, and manufacturing and other business sectors are stepping in. The U.S. business sector is looking very healthy.
Jim Paulsen
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