April 01, 2008

Relief

Busy afternoon, so no time for the full treatment. But as we noted two weeks ago, equity investors seem to have their groove back--at least for a bit. Yesterday afternoon at MarketBeat, David Gaffen picked the following quotation to summarize the current environment (emphasis in the original):

"A financial-market-crisis low was put in place in the stock market during March," says Joe Keating, chief investment officer at First American Asset Management. "That's separate from a recession/earnings disappointment low."

We think that's a perfectly reasonable way to understand what we're seeing right now. Which makes earnings expectations all the more important.

Apr 1, 2008 1:51:29 PM | Markets

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