We are bracing for a weaker opening with a slew of data being released, ... Consumer confidence, inflation and of course, oil, will remain key indicators for the stock market.
The money is still chasing stocks and that will continue. But I think the Nasdaq is having trouble as it approaches that key 2,100 level.
The key is obviously inflation. A lot of inflation talk could reverse the thought that the Fed is ready to pause after the January meeting.
The key is the fact that oil prices have skyrocketed,
It's a cautious day at the end of an up quarter, ... I think we'll continue to see caution next week as we await the start of the third-quarter earnings reporting season, and look at some of the key economic numbers, particularly the unemployment number Friday.
It's been a roller coaster ride, sort of a precautionary move on the part of investors before we get these key earnings. I'm not a bit worried. This market is going to move higher.
The market is up because of the good economic numbers, but more importantly, the market is beginning to see some stabilization in Asia and that is the key in the short term.