I also feel very strongly that Procter Gamble's strategy is not going to be linked only to Procter Gamble. We will see other Dow-type companies that either have some economic sensitivity or a slowing of revenue growth start to announce restructurings.
More Quotes from Ned Riley:
The Dow seems to be lifted because people are trying to resurrect the old growth stocks and giving them another try as a safe place to hide. The perception is that some of these companies are not currency- or energy-dependent enough for earnings to get huNed Riley
Clearly it is not much of a surprise. There was a very strong feeling he would try to establish himself as an inflation hawk.
Ned Riley
It's going to remain a war reflected week with a bit of economic news on the side. Clearly, this anniversary is not one to be cherished by many, but we should look at the conditions then compared to the conditions now. There is little hope of a recovery and little enthusiasm for a sharp profits increase. We are in the irrational fear stage, and understandably so.
Ned Riley
The retail sales number today reinforces the notion that the consumer hasn't fallen apart. Today's market is encouraging from the perspective that there is less of an Enron hangover.
Ned Riley
I think the story is going to be the same going forward. We're going to see the tech companies reporting well. But the high interest rates we've seen so far have undermined some of the financial stocks and drug stocks.
Ned Riley
I think some buyers have actually been attracted to the fact that the market has been down so big (this week) even though there may be extensive damage as a result of Rita. Clearly people are concluding things will continue to go on and that the economy is resilient enough to take another blow,
Ned Riley
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