Art Hogan Economic Quotations

Historically, the market has tried to move four months ahead of an economic recovery.

Historically, six to nine months after rate cuts, the economy stabilizes and starts to swing in the other direction, ... But a lot of things are different this time. The Fed came off an aggressive tightening mode, and there's a global economic slowdown. It's just going to take a while longer this time.

What we've gotten, in terms of economic data and earnings, is no sense things are picking up ? they're (investors) afraid of another ledge to go over,

We've shifted focus here. It's been earnings, earnings, earnings all week, now its the economic reports, ... Unfortunately, it's a mixed bag and the biggest surprise was the GDP reading.

It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.

Today wasn't much of a day. There was a lot of positive news and the economic data was good, but the reaction was a very quiet, almost muted one. Tomorrow may be even quieter in terms of volume as we approach the end of this holiday-shortened week.

You can't have it both ways -- the economy can't be strong and have us worrying about revenue growth going forward, so it has to be the trend is slowing and how much that affects equity valuations going forward.

I think we're going through this natural vacuum in the news cycle where we have a quiet economic calendar and the fourth-quarter earnings reports are slowing down. It's difficult to generate any interest in the market.

(Greenspan's) a proponent of what productivity gains have brought to this new economy, ... Of all the things he says, the least hawkish is when he talks about productivity and the new economy. In terms of Wall Street's reaction, I wouldn't say we could garner anything but a positive feeling.

It's a lagging number that will have two revisions. There were no major surprises. Economic data will still move this market, but this isn't one of them.

This is not unlike the five percent to 10 percent correction a lot of people were calling for in the beginning of the year. You have an absence of corporate and economic news and clearly people are trying to rationalize valuations.

What Goldman is saying about Sun and EMC is IT (information technology) spending hasn't picked up that much, ... But we're more concerned about the economic recovery, so the data will probably play a larger role.

I think this can sustain for the next day or two, at least until we get to all the earning and economic news in the second half of the week, ... Right now, the path of least resistance is still to the upside.

I think the market will continue to drift without any real direction until we get Friday's employment report and investors get a sense of the current economic outlook.

We've had a lot of bad news today -- the economic data, Cigna and the insurance sector is doing poorly, a bunch of companies missing estimates or warning -- but this is a market that really doesn't want to sell off,

We've had a few good days and the only economic number we had today was the jobless claims, ... People are starting to get nervous -- if the jobless claims look like that, what will the unemployment rate look like, and that's the driver.

When the Federal Reserve is in a (interest rate) tightening mode it's difficult to get excited about old economy stocks,

We need a significant catalyst. Whether it be great second-quarter earnings or blowout economic data or some marquee firms coming out with a mid-second-quarter preview.

There's been this tug of war all day between factors like falling oil prices, more negative than positive economic news and everything going on at GM,

The price of oil will be the main driver this week, particularly since there is so little economic news.

We shouldn't get too far ahead of ourselves in terms of an economic recovery, ... I think the debate will become much more macro-economic instead of the micro focus we have had.

During earnings, we're often in a trading range, and I think we still are right now. We've got 100 members of the S&P reporting this week, a lot of economic news and the Fed tomorrow, so for the market to go sideways a bit is not a bad thing.

It sends a signal that the U.S. economy has weathered some pretty harsh storms over the past few years and in recent months.

I think there's a lot of things going on, ... We had some good news from companies like Oracle, great economic data this morning, and you had the market clear two key psychological hurdles recently -- the Dow passing 10,000 and the capture of Saddam Hussein. All of that brings buyers back in for the short term.

My guess is we're going to have some positive action after last week's selling. We're in the last week of the month and the last week of a quarter, so there's some momentum there. If the stream of economic data is as positive as it's been, we're going to see some strength from that.

We've got a lot of economic news between now and the next Fed meeting in May. The path of least resistance is higher, but there's a bumpy road.

Today we had some positive economic data and we came into the market oversold, ... I don't think we've fixed the oversold position -- I think we're still cheap. Tomorrow there will be some focus on factory orders and Cisco earnings.

We spent the week worrying about yields and what the economic data would do. We managed to work our way through it. We finished off the week the best we could. Next week we have a host of economic data that may or may not change our mind. We'll see how it plays out.

You don't get a ton of people making huge bets ahead of the Fed meeting, ... There's little corporate news and no economic data, so I think you'll get some bargain hunters here.