Hugh Johnson Profit Quotations

The simple truth is the economy rebounded from the fourth quarter and was very strong in the first quarter as measured by (gross domestic product). Secondly, based on what we've heard from companies, profit margins should be good.

We are gradually, slowly building investor confidence that the profit recession will end, ... What's leading to the bullishness is not anything you are currently looking at. Earnings are dismal, but investors are becoming more optimistic that the profits recession will end.

The reason the (stock) market is struggling is that concerns about the economy and earnings are deepening, ... We don't see anything that says the current profit recession is going to end.

Their (Exxon's) profits were very strong, and December personal income was higher than forecast.

When the markets struggled for a technical bounce in the morning, that was investors sending a message that we're either heading toward an economic recession or toward a profits recession.

It is a down week after some predictable profit taking following a strong January. But the excuse for that profit taking was the Fed. We walked away from last Tuesday's meeting in which they raised interest rates, knowing that they will likely raise rates again at their March meeting.

The market is asking the question, given oil prices, given rates, given China's economy and other things, what does it look like for the economy and corporate profits in the fourth quarter and in 2005? The message we got last week was that it's probably not going to be as great as everybody once expected, but it will still be just fine.