The story you'll start to see people talk about as rates go up around the world is, what type of competition will there be for stocks.
People will be focusing on the 10 o'clock number. The market has shifted to a fear of recession, as implied by inversion of the yield curve, and consumer confidence could go a long way to restoring a more positive view.
Iran and GM are the dark clouds hanging over this market.
The worst of the earnings news is probably out of the way and expectations are probably back in line.
It's possible technology will start to take a leadership role, but what people are worried about is that as the economy begins to peter out, its always hard to take a group like technology as leaders, you would expect groups more like the financial stocks.
The alternatives to equity investment today, when money market rates are as high as they are, are much different than they were a year ago. It gives people more of a choice when there is some bad news.
I think this may say more about Intel's competitive position against AMD than it does about some broad-based slowdown in the technology arena.
This may say more about Intel's competitive position against AMD than it does about some broad-based slowdown in the technology arena.
The year is starting off with strong M&A activity, and part of what's driving the economic cycle is consolidation. It does provide some support for the market.
Oil's proving to be a very volatile factor, particularly coming off a remarkably warm winter. But it's going to stay in focus as long as political events are going on.
