At the same time, many retailers and the automakers have had good June numbers, despite the rise in oil prices (over the last month). Overall, there's some relief right now that the economy is indeed strong, but not overheating.
More Quotes from Stuart Hoffman:
The bottom line is that Greenspan is in no way signaling that the Fed's tightening ballgame against inflation is nearly over.Stuart Hoffman
(Tuesday) won't be the last. This is not the sort of cheap and easy (money) period of the past several years.
Stuart Hoffman
Stocks and bonds rallied at first, but now have hemmed down. Stocks are coming off a superb day yesterday, so that may be a little profit taking.
Stuart Hoffman
We've heard some disappointing reports about the final couple of weeks before the holidays, so we won't see as big of an increase in December, ... but when you combine November and December, this is about the best holiday season we've seen since 1999.
Stuart Hoffman
The bottom line is it is a very solid report, but with continued inflationary pressure building up, it will make it easy for the Fed to conclude (Tuesday's meeting) with a quarter-point increase,
Stuart Hoffman
It's clear that job growth in the last three months has been as slow as it has been in quite a while. It is a picture of a somewhat slower or weaker job market.
Stuart Hoffman
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