Michael Sheldon Energy Quotations

The markets so far have been unable to build on yesterday's gains, and right now are being held hostage by the bond market. But we are seeing some strength in semiconductors, energy stocks and some of the metals companies.

Buying enthusiasm dried up as the day progressed. Lingering worries over rising energy prices and higher bond yields may have finally caught up with the market.

Despite the Democratic National Convention, the biggest story of the week has been energy prices. That's prevented the market from seeing a bigger rally off these oversold conditions.

That's likely to remain the case until we start to resolve a few of the issues overhanging the markets include interest rates, energy prices and the strength of the economy over the next several months.

So far, we haven't seen a major increase in core inflation, all we've seen is a sharp rise in energy prices. It seems logical that higher energy prices should start to feed through to higher inflation.

This market is just extremely resilient, and if we don't get a major spike up in energy prices or interest rates from current levels, the strong earnings environment we find ourselves in could help carry the markets higher for several more weeks.

With the fed continuing to raise rates and energy prices at very high levels, its hard to see the markets making much headway, ... certainly been guy shy about putting new money to work.

You can't blame it all on energy because the trade deficit excluding petroleum rose faster than the overall deficit. The main culprit once again continues to be that imports are growing faster than exports.