This number is very startling. It is preliminary, so it is subject to fairly substantive revision. These numbers may translate into earnings risk, but may also dissuade an aggressive Federal Reserve.

This number is very startling. It is the preliminary, so it is subject to fairly substantive revision. These numbers may translate into earnings risk, but may also dissuade an aggressive Federal Reserve. The chain deflator was higher than expected, which may take the steam out of our rally. This may dampen enthusiasm, but not kill it.

A lot hinges on the numbers. If they're good, the market rallies. If we get any suspicious numbers, or more accounting-related stories coming into the fray, we're looking at lower prices again. It's a time of caution and some confusion.

Generally, in a (review), the numbers aren't as important as the substantive issues. It's very hard to utilize if it's not substantive. We look very hard at things that come in from other agencies, like the Corps (U.S. Army Corps of Engineers) and the EPA.

The preliminary estimate is lower than what was expected. But I think it's important to look behind the numbers.

The opposition said we underestimated the number. ... We were right on. ... If we would have used their numbers we would have been overstated.