You've got interest rates on your side, inflation on your side. Earnings look good in the second quarter and we think they will be good for the balance of the year. We don't see the indicators to suggest we've got problems at this point.
More Quotes from Stuart Freeman:
Certainly, part of the market's worries right now stem from oil. You still have instability in the Middle East, and there's a fear that prices will move dramatically higher.Stuart Freeman
I think today's action is a little bit of profit taking. There's some consternation in the bond market. We think this market in equities is going higher later this year.
Stuart Freeman
Anything that makes investors feel comfortable with the inflation level and the way short-term interest rates are going is going to help the market.
Stuart Freeman
We think Gap is a strong growth company whose valuations have become attractive in the last, really the last three months or so. I think the surprise of the year right now is that the economy is not so strong, that inflation will heat up and that these growth stocks that have carried the market for the last three years are going to reassert themselves.
Stuart Freeman
You've got good home sales figures showing some decent economic growth, and you've got crude oil prices up. You put those together, and that creates worries that the Fed is going to keep going on rates.
Stuart Freeman
We think right now we're looking at a range in the intermediate term between the current level to 8,000 and down into maybe the 7,300 area. At the same time, as you look at those levels to the 8,500 target we see for next year, there's still good opportunity for gains.
Stuart Freeman
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