Joe Abate Market Quotations

The odds are that things are going to be a little stronger than people anticipate in another month or so. With the exception of the labor market data, which will continue to stink.

The stronger data virtually assure significant changes in the Fed's directive this week. The new directive will probably include a grudging acknowledgement of the stronger labor market and inflation statistics.

The market didn't like his lines about inflation. Overall, the speech was extremely well balanced . . . The market is just focusing on one or two lines out of the entire speech.