Gail Dudack Quotations

We have to be patient with this recovery. It's not going to be a youthful one; it will be a slow, lumbering one.

I think it's a carryover from what has been a really nice trend.

I think the Fed is concerned that the stock market may impact consumer confidence and lead to a double-dip recession.

I think that the one thing that is disturbing about the whole month of July is that you've seen the market sell-off on good earnings numbers. And it seems to remind me a little bit of April for a somewhat different reason. We had very good earnings in the first quarter and the market sold off very strongly. We're starting to see the same pattern in July. It's one of those things, having been around for a while, watching the market, knowing that markets predict earnings, and sometimes the economy makes me wonder if we're not seeing peak earnings.

I think we need to go back to 6,300 before there is a little bit more confidence about value when earnings growth is questioned.

I think we've already broken out of the trading range. Most of 2005 was the trading range.

I think we are getting into the resistance levels. We are getting to the hard part.

I think there is risk in the market. If there is weakening in the economy, then an earnings recovery gets pushed out further into 2002.

Really what the markets have been struggling with is: What is the direction of the economy and therefore corporate profits.

The (stocks) with the highest (price-to-earnings) take that news the hardest.

The stock market just cannot seem to go anywhere but down whenever the long bond gets above 7 percent, and that is basically what happened today.

The strong dollar has done two very good things for the stock market: brought in foreign money and kept inflation low. Question is, 'What is the dollar going to do from here?' It's been weak for the last month. Will it still create that magnet for foreign investors?

A typical economic recovery will see job growth north of 220,000 new jobs a month. And we've had very few months above that level. So, this job market looks stable, but not robust, and that is what will put restraint on the Fed in 2006.

The negative of last Friday's decline was not the decline itself, but the complacency of the decline. There's too much complacency.

The fed was very aggressive with cutting rates, and that affected rate-sensitive areas of the economy, such as housing and autos. That leaves us with a problem, which is a lack of pent-up demand in the recovery phase.

For technology, it's still probably going to be a long period before the turnaround.

The case continues to be made for small caps. I have more faith in the quality of earnings of small caps than large caps.

The market is responding very directly to interest rates as kind of a one-dimensional thing -- fearful of inflation and I think that either higher rates may catch this market in 1997, or the flip side, lower earnings.

The main catalyst that people are looking at is tomorrow's jobs report. While there's a mix of many things going on in the market, the key thing to an economic recovery is jobs and income. That's why tomorrow's number is critical.