Sam Stovall Last Quotations

Basically the top ten industries were those that are economically sensitive and are bouncing back from their deeply oversold condition last year as a result of lower interest rates. We do believe the Fed will remain aggressive with its easing interest rate policy but we feel the earnings are going to be pretty bad for the first quarter, so the market is likely to tread water for awhile.

That really spooked investors last month and this week they'll be looking for earlier numbers, like the PPI, to see if there isn't anything they can glean on what to expect from the next CPI report.