Some bears had implied that rates will rise by 50 basis points tomorrow, and some people were a bit worried about that.
More Quotes from Michael Carty:
The oil prices are creating a few problems. Prices are impacting the PPI report and also consumer prices and are also hurting our trade balance, what with the weaker dollar, because we have to pay more to import oil. However, there aren't a lot of inflationary pressures here beyond that.Michael Carty
I think the markets are basically making time as a result of the Iraq situation. The negatives are being played up, and the positive things not absorbed. With a modest resolution to some of these things we might see a market rally.
Michael Carty
We're seeing some jitters about the Middle East as it relates to our presidential election. But I think the trend should remain up. Earnings are certainly strong, and I think the market should follow that. The only thing we have to fear is more talk about interest rates.
Michael Carty
The challenge for stocks next week is going to be getting through more Iraq news.
Michael Carty
We're in this confessional period where there's nothing but bad news coming into the market place now and investors have become really cynical.
Michael Carty
Right now the general direction is up and that's because of the economy. But there is still a tremendous amount of skepticism about analysts' forecasts and the ability for corporations to repair profits that could challenge us next week.
Michael Carty
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