Donald Selkin Oil Quotations

Futures are down now because of the response to Microsoft and Amazon.com, but that could change in the morning, depending on what oil is doing then.

I think it's interesting that on a day when crude oil closes over $50 a barrel for the first time, the market is flying.

I think the markets will overlook the weak economic reports. Everyone knows numbers in February and March were terrible due to the snow storms and oil prices.

We're drifting, and we're probably going to keep drifting for the next few weeks. But that's OK, there are positive developments out there. Oil prices seem to be under control, and I'm more encouraged about the second-quarter earnings than I have been in a while.

There are a lot of positives -- Intel said some good things; Greenspan is saying that oil prices are a wild card, which we knew already, but that inflation is under control. But we're mixed, bouncing around today (Wednesday). You've got big names coming out in the next day and you need some of these giants to say tech is improving.

This thing with the oil is nutty. Even the president of OPEC says prices should be $10 to $15 lower than they are. It has very little relation to the supply and demand statistics.

Between Texas Instruments, the rise in oil prices, and commodities, we got hit today. But the decline wasn't terrible. Last week we had nice gains, and today, we're kind of consolidating.

The oil issue is continuing. It has a huge effect on market sentiment and on consumer spending.

Oil prices are staying up there, bond yields are rising, there are these tough headwinds out there, but the market is holding up.

I don't see that there's any motivation to move higher. The concerns about interest rates, oil prices and Iraq aren't going away. I think we're going to stay in a volatile range. The best we can hope for is the market to move sideways for a while.