I think there are a number of things going on. One is Procter Gamble has done a great deal of restructuring. They're coming back to their core businesses, brands like Tide and Crest, ... They've got rid of a lot of the smaller brands. They've also consolidated some operations. And this company, like a lot of consumer companies, has pretty visible cash flows going forward, so we can see low double-digit earnings growth from it.
More Quotes from Michelle Clayman:
Until both the economic and corporate news start moving more consistently higher, you won't see another big move up for stocks.Michelle Clayman
This is going to be a positive year for the market, but the growth is going to be slow. The quick resolution to the Iraq war has been a positive and I think people took a lot of encouragement from that, which is why you've seen the run we've had, but the economic news has been mostly mixed.
Michelle Clayman
If we do go to war, probably as soon as the war begins the markets will take a lift, as they did in the Gulf War. If it's short and successful, the markets could rise, but if it's not -- or if there are nuclear, chemical or biological attacks -- it could be negative for the markets. It would be a huge blow to confidence.
Michelle Clayman
GDP numbers could surprise a little to the upside, and that may be why the Fed said what it did, ... Confidence numbers could also be surprising, in light of recent reports.
Michelle Clayman
You have a number of issues, not the least of which is the upcoming Fourth of July holiday.
Michelle Clayman
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