I'm listening to the Manitowoc (MTW) conference call this morning. They reported a great quarter, and are saying 2008 will be even better. The key points that I was listening for were all discussed. According to the CEO, demand for their cranes in expanding global markets has shown no sign of slowing. None. Demand looks strong until at least the end of the decade. India, China, and the Middle East (specifically Dubai) are all purchasing cranes and building infrastructure as fast as they can.
This to me is great news for the global economy. Looking at crane demand is a great way to look ahead as cranes are bought for future projects, and estimates for these products can look ahead more than others.
As far as the stock market goes, I see stocks dropping near term. Sentiment is still so negative, and that will take some time to subside. In the mean time, I'm sticking to core positions and waiting for stocks I like to become more attractively valued.