The new orders index was better, profits are going to be up a little, interest rates are at a record low, there have been so many layoffs that that may start to dry up, there will be rising productivity and higher profit margins -- all these things combined could give some support.
More Quotes from Michael Carty:
Earnings continue to remain strong, even for the technology companies, so I think, with the Federal Reserve saying we're afraid of a recession more than inflation, you're seeing bargain hunters coming in.Michael Carty
This comeback is a very positive sign for the market. When the market is in a bull market phase, investors will start to ignore the bad news.
Michael Carty
The market is trying to build a base in what is the third-longest bear market in history. It's not going to end in one day when you're not paying attention. This is a process that you have to go through.
Michael Carty
Markets tend to be very uneasy during the election year. One of the problems is that no one wanted to make a big commitment without knowing who was going to be at the helm.
Michael Carty
Investors still have a lot of rebuilding of confidence before they jump back in with both feet. They're (investors) not in a rush to get in -- they've already tried all the buying on dips they intended to do and they want to make sure this is the last dip.
Michael Carty
There's just no obligation to jump in until we start seeing better (profit) reports and that won't be until July.
Michael Carty
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