I don't think the economy is more likely to be better under the Republicans or the Democrats a case can be made for each, ... The importance to the economy is really more with the Federal Reserve interest-rate decision that takes place on Nov. 6.
More Quotes from John Davidson:
The housing numbers were certainly strong, so that should have been a positive and a few companies beat by a penny or so, but geopolitical concerns are overweighing everything else.John Davidson
The PPI numbers look pretty good. I think the important thing to look at is when this thing turns around, and I don't know that we yet have a clear picture that we definitely are in a slowdown mode, although there are some signs that we have slowed down, which sectors are likely to do well. And I think the important thing, if you look past the last two weeks, is that there is really a resurgence of the leadership of technology and biotechnology.
John Davidson
I think I'm probably in the minority that thinks that Greenspan may raise rates on Tuesday. I think the real case is a fact that the labor market is really tight and commodity prices have really increased.
John Davidson
Expectations were for improvements in the economic news, but the reports today have surpassed those expectations, so you have investors finding more encouragement than they did in the reports released in mid-to-late November.
John Davidson
What they say may have an impact tomorrow, but the dominant topic on investors' minds right now starts with an 'I' and it's not Intel. Both businesses and consumers are hesitant to make any moves until there's progress on Iraq.
John Davidson
I think the HP earnings had the market set off earlier this morning. I think the market generally has a positive tone in respect to the economic indicators and the hope for the future.
John Davidson
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