Right now it is a market of indecision. There's no clear theme to build on. If retail sales come in very strong, it is going to tip that delicate scale into the direction of a strong economy, a hot economy and higher rates.
The report may give a reading on the economy and, bottom line, what may happen with interest rates. We are also coming from several days of declines, so a benign report may help boost stocks today.
If crude oil prices hit $60 a barrel, that's going to stir up old fears of higher energy prices and revive worries about their impact on consumer spending. The $60 dollar level is a key psychological barrier.
Earnings will be coming in full gear today, but even if they were to be good, stock investors will question the sustainability of such results given high oil prices.
IBM is going to have another negative effect in the broader market. It's a major stock.
I believe what we may see is a minor pullback due to a lack of fresh catalysts now that the Fed has already said what they said.
For the most part, Christmas is here and everyone is taking a well-deserved break, including Wall Street. Unless there's a significant deviation from expectations on the economic data, I'd be surprised if the market closed more than 30 points either way.
Oil seems to be a tad off today. One of the reasons yesterday sold off so much was having that surge in oil. We're getting a little respite from that this morning.
Oil seems to be a tad off today, ... One of the reasons yesterday sold off so much was having that surge in oil. We're getting a little respite from that this morning.
Considering that it's a bank holiday, there are no earnings and no economic numbers, Dell could be one of the few points of interest today.
