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.
Earnings may prove to be a good distraction from what's been going on with energy prices. But managers, including myself, are asking themselves how long companies will be able withstand oil prices at these levels without being hurt.
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.
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.