Take on the ticker

How did it go last week on the markets?"By in large, the volume wasn't excessively heavy in the market #8230; The markets (were) looking at how those (recent) Fed rate cuts are affecting overall growth in the market. But by in large, the stock market has improved. Various sectors in the market are reacting more positively #8230; We've seen good action in many sectors across the board."Which sectors reacted positively?"The energy sector and the oil service sectors, certainly, have reacted positively because of the higher oil prices #8230; The basic materials sector is an improving sector #8230; But we are also seeing improvement in the broad tech sector. Even the Wall Street Journal had a very interesting report recently stating that some money managers (believe) #8230; the rally in the broad tech sector is just the beginning, really, after many years of being in a slump"Are rising prices threatening inflation?"Wheat is up 70 percent since last year. Soy is up 40 percent. These higher prices could eventually affect food stuffs and consumers. Inflation is one of the primary concerns of the Fed. But the Fed, none the less, let the door open for further rate cuts in the future."How is earnings season looking?"Earnings are not expected to be as strong as they have been in the past, and in truth, there is a lot of divided opinions among economists. Remember, some economists are looking for good growth going forward. That is our opinion here. Some analysts, of course, feel inflation is on the horizon because of the rate cuts. There are other analysts thinking about recession."Is recession likely?"As a matter of fact, Alan Greenspan #8230; speaking in London, by the way, was talking about a 50-50 chance of there being a recession but he was more positive about there not being one."What will move markets this week?"The big news in the coming week will really be earnings. There will be, certainly, at the end of the week, some very strong economic indicators, relative to unemployment and factory orders and consumer credit -- which is on everyone's mind. But earnings and the beginning of the earnings season will affect individual companies and the market itself."