We spent the week worrying about yields and what the economic data would do. We managed to work our way through it. We finished off the week the best we could. Next week we have a host of economic data that may or may not change our mind. We'll see how it plays out.
We should shrug this off and realize that this is the best fourth-quarter earnings we've seen in years,
Outlook statements for the first quarter are the best that we've seen in some time, but the question is, how much of that is already baked into the market?,
The fourth quarter is when we'll see the impact of rising interest rates, higher energy prices, ... I would say eBay is the biggest piece of the problem this morning. It's a household name and it's adding to the sentiment we're not going to have the best of fourth quarters.