Bruce Simon, Chief Investment Officer at Ballentine Partners, was quoted in a recent article in the Wall Street Journal (print and online): “US Stocks Climb On Better-Than-Expected Employment Signs.” The piece describes the lack of conviction in the markets because of conflicting economic indicators.
“That’s leading people to think the jobs number on Friday may come in stronger,” noting the employment data comes as investors try sifting through contrasting signs on the economy for signals of whether the economic recovery is sustainable. “The economic data is sending a pretty mixed message right now. People are worried as we transition from the government-led stimulus to one where the private sector is taking a more central role in the recovery, how smooth it’s going to go. That’s causing a lot of uncertainty right now and that’s why we’re not seeing a lot of conviction in the market in either direction.”