"The fact that people think that this number will slow the Fed is one thing, but it's also a tell-tale sign that we're facing tougher times going forward," said James Park, managing director at Rodman & Renshaw. "The reality is that the economy is slowing down and people have fewer dollars in their pocket."
Park said other markets reflect the likelihood of a slowing economy. Commodities, he said, are weaker in part because the housing market in the U.S. is cooling, reducing the demand for raw materials. The fall in the U.S. dollar is another sign that investors see a weaker economy ahead while higher oil prices can only act as a break on growth.
Park said other markets reflect the likelihood of a slowing economy. Commodities, he said, are weaker in part because the housing market in the U.S. is cooling, reducing the demand for raw materials. The fall in the U.S. dollar is another sign that investors see a weaker economy ahead while higher oil prices can only act as a break on growth.
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