This lessens the possibility that the Federal Reserve will tighten monetary policy again at their next meeting. One more increase was probably built into the market, so it's now being taken out of the market. That drove bond prices higher, and, with yields coming down, makes stock prices more attractive.
More Quotes from Roy Blumberg:
The strong employment numbers say there's still power out there in the economy and therefore the earnings picture will continue to be good. Meanwhile the hourly wage number was not that strong so it doesn't suggest any pickup in inflation. So it's a good number for Wall Street.Roy Blumberg
Even though the regular rate was slightly higher than expectations, right now the market is willing to discount the fact that energy prices are an important component. The reality is, it's an important sign and inflation is picking up. The fact is, people have to start taking a look at energy prices as a concern.
Roy Blumberg
The Nasdaq advancedecline line actually ended the year lower than where it started, and that says that the soldiers weren't really participating, that it was a limited number of stocks driving the average up.
Roy Blumberg
The next potential market-moving event is the PPI. Every time there is a number that suggests the economy is too strong, bonds come under pressure, which means large caps come under pressure.
Roy Blumberg
Technology stocks weren't able to hold their gains and the market pulled back.
Roy Blumberg
Readers Who Like This Quotation Also Like:
Intimacy comes from being yourself on the stage and making the audience feel, without trying, that you're sittin' down there with 'em, playing, and that can happen in a big hall, if you have a good audience that want to listen.Doc Watson
I do not think that Mulder trusts any one other than Scully. He s very solitary. She is the only one who takes him seriously. I don t know if they re in love. In a way, their relationship is deeper than that, because they cannot live without each other.
David Duchovny
Reading is equivalent to thinking with someone else's head instead of with one's own.
Arthur Schopenhauer