Michael Sheldon Prices Quotations

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.

Right now, I think the market needs a catalyst in order to get out of this difficult environment. Hopefully if oil prices continue to decline and move back into the mid $50s, that could turn sentiment more positive on Wall Street.

Given that tech companies are already trading at pretty high valuations, these companies' earnings are going to have to really deliver for the stock prices to show a substantial reaction.

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.

As the day progresses, oil prices have started to dominate trading and lead to weakness in the market.

Oil prices in the morning would've been the biggest story, but by the close the market's incredible resilience is what investors are left with, ... It's a contrast to how the markets ended yesterday. I think so far higher oil prices have not had a major impact. There are a lot of positives driving the consumer and the stock market.

Despite terrorist events around the world, rising oil prices and a lukewarm job market, consumer spending has remained fairly strong, much better than many would have thought. But if the economic data starts to slow and oil rises above $60 a barrel, that could eat into consumer spending.

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.

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.

Stock prices moved lower for most of the day, but closed off their lows after oil prices retreated. All in all, there was a lot of hesitation before the earnings by the two tech bellwethers.

A further rise in oil prices and a retreat in Treasury yields could also create more headwinds for the market,

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.