There's an erosion of confidence that any recovery is unlikely to occur as quickly as had been previously expected and when a recovery comes, it's not probable that it's going to be a very robust one.
"William Thomas Meehan" (1889–1982) was an United States/American Major League Baseball pitcher. He played for the Oakland Athletics/Philadelphia Athletics during the season.
More Bill Meehan on Wikipedia.It seems we've had more than enough weak economic data to conclude the Fed will cut rates on June 27.
Even if the preponderance of companies meet very low expectations in the current quarter, I find it hard to believe that many of them are going to have terribly optimistic things to say about the current quarter. That will lead analysts to really hack away at 2002 expectations.
I don't think we're in for Armageddon, but there's not going to be any visibility on earnings. So we've got months of trading fun and investors can go to the beach.
If they (the Fed) had any plan whatsoever, they wouldn't be trying to micro manage the economy and target the stock market like they have been.
The markets have been relatively positive. We had a big run in the semiconductors and people are willing to bet things will be just fine as long as (the Fed) continues to lower interest rates.
We can't go anywhere without bonds. The focus will continue to stay on bonds (and) we could be headed for a 10-percent correction.
Half of the gain (in spending) was due to price increases. Mr. (Alan) Greenspan may want to convince you that inflation is relatively contained but that's hardly the case with what the data shows.
The bulk of the warnings season is out of the way and I think there's some optimism that the Nasdaq was able to hold 2,000 on Friday.
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