Angus Campbell Prices Quotations

Bulls have been crying out for a good end to the earnings season, and this will only encourage them to push the market higher, especially if oil prices continue to remain low.

With higher gasoline prices putting a dent in consumer spending and underlying inflation looking to be contained, further interest rate hikes seem unnecessary.

With gasoline prices declining here and across the pond during the month of October, any downside to this (PPI) figure will be hugely welcome for the market and equities could push higher.

Even though there have been a few fund managers cutting their exposure to U.S. equities, the earnings season has proved almost as good as Q3 last year and subdued oil prices could help lift confidence levels. Just over 65 percent of companies in the S&P 500 that have reported have met or exceeded forecasts.

Profit taking cannot be ruled out, especially if oil prices head north.

As oil prices continue to trade higher, this (deficit) decline could be short lived and the U.S. trade woes may get worse.