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It is very hard to get bearish when the news is this good: Hugh Johnson SECTIONS Last Updated: Mar 11, 2021, 11:48 AM IST Share Synopsis “We are about 7% overvalued but it is very hard to get bearish when the news is this good.” ETMarkets.com Hugh Albert Johnson, Chairman, CIO and member, Investment Strategy Committee, Some experts are saying it is impossible to be bearish with what is happening in the stock markets and what we are seeing with the bond yields. Is it a temporary phenomenon? It is really hard to get bearish and the reason is that though the interest rates have gone up, it is very challenging when you have this level of yield on a 10-year treasury. But at the same time, we continue to get news in response to the $1.9-trillion in stimulus that we are about to get. Because of that and because of the good news on the pandemic in the US, there are continuous upward revisions to economic forecasts for 2021 and 2022, and especially ....
On February 24, 2021, the New York State Assembly and Senate, along with the director of the Division of the Budget, held the 2021 Economic & Revenue Consensus Forecasting Conference Meeting to examine analyses of economic and revenue forecasts for New York State and the nation. The conference is convened annually as a public hearing for the purpose of assisting the Governor and the Legislature in reaching a revenue consensus forecast prior to budget negotiations. Presenters at the conference offer their analyses of the current state of both national and New York State economic conditions, and projections of how current conditions and future conditions may impact state revenues. Presenters at this year’s conference included Chris Varvares of IHS Markit; Hugh Johnson of Hugh Johnson Advisors LLC; Jason Bram of the Federal Reserve Bank of New York; Kajal Lahiri of the State University of New York at Albany; and Jared Walczak of the Tax Foundation. ....
The broad stock market isn't in a bubble for these three reasons, according to Hugh Johnson, chairman and chief economist at Hugh Johnson Advisors. ....
Signs point to bumpy recovery in local job market FacebookTwitterEmail FILE - In this March 18, 2020 file photo, visitors to the Department of Labor are turned away at the door by personnel due to closures over coronavirus concerns in New York. A record-high number of people applied for unemployment benefits last week as layoffs engulfed the United States in the face of a near-total economic shutdown caused by the coronavirus. The surge in weekly applications for benefits far exceeded the previous record set in 1982. (AP Photo/John Minchillo, File)(AP Photo/John Minchillo, File) ALBANY Thursday s U.S. Labor Department report on initial jobless claims was the latest sign that the recovery in the job market isn t going to be smooth. ....
12:51 After initially showing reluctance, President Trump over the weekend signed a $900 billion COVID-19 stimulus package that includes direct payments to Americans, extends unemployment benefits, and sends money to businesses hurt by the pandemic. For some insight into the expected impacts of the legislation, WAMC s Jim Levulis spoke with Hugh Johnson, chairman and chief investment officer of Hugh Johnson Advisors in Albany. Johnson: When we take a look at the fourth quarter, and we look at the numbers through November, the economy was losing momentum. And it was clear that individuals’ incomes were going down, their consumption had started to contract or was contracting and they were using their savings to try to, you know, basically keep ends meeting, meet their meet their obligations. What this does is it gives them sort of new life, it gives a real lift to the incomes of individuals. And I might add, very importantly, with the Paycheck Protection Program, those loa ....