Tom Schrader Oil Quotations

We had a very nice rally, primarily due to the fact that we had oil down, and there was some relief that the convention passed without incident.

We're primarily up because we're oversold and oil is down. The breadth is decent, but the volume is low. There's just not much of a catalyst to move us.

I think you're seeing a continuation of the euphoria we saw on Friday with the employment numbers, and the fact that oil prices are down again.

We've got earnings concerns today, and oil prices are still scaring everyone.

We're starting to get into that no man's land of lack of earnings, with most of the S&P 500 having reported already. We'll have durable goods orders tomorrow and beyond that, the market is going to have to count on the economic news and the price of oil for drivers.

While it's too soon to tell exactly what the damage is, I think the market had priced in even more damage to the oil infrastructure than what seems to have taken place.

Oil is always a negative factor for the markets and that, combined with lack of economic data, is contributing to a lack of interest in the stock markets this morning. On the bright side, the series of company upgrades is certainly welcome.

Oil is certainly creating some anxiety in the market.

They're taking oil higher because of the inventory numbers, ... but the thing with oil is that there's a lot of whipping and sawing in the oil pits, a lot of things pushing oil around.

Techs are moving a little and you have oil and gasoline down, which is moving the transports. The drop in energy is also knocking the oil sector lower, and that's maybe weighing on the blue chips.

They like the CPI news this morning and the action in oil markets, with oil down 2 percent. Investors are less worried about inflation, and with energy prices coming in a little bit, that will give more money for the consumer to spend.

The confidence number this morning was abysmal, and that's what shocked the market. The higher oil prices are definitely starting to have an impact on consumer spending.