Marc Pado Earnings Quotations

Obviously the Iranian thing is a wild card and nothing's going to get resolved in the short term, but the earnings are really what's key to the market and any longer-term perspective.

Those very short-term support levels were broken yesterday, but the supports under the current levels are substantial. Now that the Fed has made it clear that we will see one if not two more rate hikes, the uncertainty has been removed. We expect the focus to shift to first-quarter earnings results, and they are expected to be good.

Earnings will be the main focal point, although the rumbling is already starting about the upcoming FOMC meeting.

The bulls had a real opportunity. Earnings continue to roll in, and for the most part they are in-line or better than expected.

It will take some strong earnings and bullish forecasts, as well as positive economic data, to keep the rally going. There are plenty of economic data and earnings releases to sway market opinion from hour to hour and day to day. Behind it all, there is the rising threat of geopolitical tensions with Iran and higher interest rates out of the Federal Reserve.

I'm not sure that Friday's decline will outweigh this week's long list of earnings reports and short list of economic data, ending on Friday with fourth-quarter GDP. Crude is making investors nervous, and by the end of the week, the FOMC meeting on the following Tuesday will also be a major cause for concern.

By the end of this week, the attention will shift to the December employment report and then on to earnings starting next week. By the end of the month, earnings and forward-looking projections will be what needs to step up to the plate if the market is to continue the rally.

The headline number probably isn't as important as the wages and average hours worked. Earnings are still the main driving force, and the jobs number is just a hurdle in our path.