This may be a natural reaction to the war, but the losses are deep and spell increasing trouble for the economy if uncertainties do not lift very quickly.
More Quotes from Stephen Gallagher:
It's a very strong report. We're seeing a lot of strength in the consumer and business sectors.Stephen Gallagher
This is negative news and giving the market reason to pause a little. The core number is up 0.3 instead of 0.2. It's all it takes.
Stephen Gallagher
It may be even more that one (rate hike). If they move once there is always another chance for another one, but I think the message that we got from Greenspan today is that it will not be an aggressive increase in rates.
Stephen Gallagher
The housing numbers look pretty strong, but we have to discount them due to the mild weather effects. We are getting confirmations from the companies themselves about lower orders.
Stephen Gallagher
On the headline, it's a great report, up 5.8 percent. The recovery is under way. But we're also beginning to see a bottom in durable equipment declines, which is important because it's about corporate profits. But we still need that to be stronger to make sure that this recovery is here to stay.
Stephen Gallagher
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