Lara Rhame
Lara Rhame
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We're getting to a phase where European data could have more of an impact because a solid U.S. economic scenario is so widely expected. The markets are also very thin, so traders aren't taking on large amounts of risk.
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People's outlook for the economy changes much faster than the underlying state of the economy. The Fed tries to keep its eye on the larger ball and not on the ping-pong ball of the stock market.
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The dollar is largely unchanged. In these holiday markets, I think releases like tomorrow's personal income data are going to be more critical than the backward-looking GDP report.