Even if GDP is strong tomorrow, even better than the 6.0 consensus, you may not see a big stock reaction, ... As you saw yesterday, we're in a period where the economy should continue to support the stock gains going forward.
More Quotes from Timothy Ghriskey:
We've seen a very volatile stock market since February. Different styles and sectors, like technology or financials, coming in and out of favor with no clear direction. There's nothing really wrong with techs. They are certainly somewhat highly valued by any historic measure, but probably not as highly valued as they were in February. We think, actually, come the fall, we could see a big tech rally, and that would probably be related to the fact that the IPO calendars are really building at the big underwriting firms, the big broker dealers,Timothy Ghriskey
I thought Dell had good numbers, and it likely shows that they have taken share in a lot of key areas. While that's good for Dell, I don't think it takes the sting out of HP's news. I don't think it has broad implications for the rest of tech.
Timothy Ghriskey
The brokerage earnings are by far the toughest to predict, because so much depends on how their internal investment performance was.
Timothy Ghriskey
They are saying the economy is going to slow and that there's no inflation but that we still need to raise rates. Investment professionals worry that the Fed will go too far and grind the economy into a recession.
Timothy Ghriskey
The sharp rise in futures this morning reflected strong earnings, and we do think earnings are strong and the economy is strong, ... It is a possible that if earnings keep coming in strong that there will be a reconnect with the markets and corporate performance.
Timothy Ghriskey
Oil is certainly dominating the market right now. Yesterday, crude moved above 60 but then pulled back by the close. Today you didn't see that.
Timothy Ghriskey
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