There's a lot of bad news priced into the market. If things turn out not to be as bad as discounted, we will have a rally this summer, and we will end the year 10 percent higher than we are now.
There's a lot of bad news priced into the market, ... If things turn out not to be as bad as discounted, we will have a rally this summer, and we will end the year 10 percent higher than we are now.
have been beating the drums about worrying about higher inflation, and so far, other than energy, we haven't had higher inflation. (But) I would say earnings are doing quite well, so I think that's helped to keep the market from having another bad week.