Oil would need to move a lot higher before it really starts to have the impact on the economy that people worry about. But the fact that it is always part of the daily conversation about stocks gives it this big impact.
More Quotes from Mark Bryant:
What's interesting is the change in how oil prices are influencing us, ... Today oil was up and the market is holding up, yesterday oil was down, but we sold off anyway. We'll still keep an eye on it, day to day but it clearly isn't as tied to the stock action as it has been.Mark Bryant
People are starting to move from factoring in a 25 basis point rise to expecting a 50 basis point rise, ... If Friday's number is particularly strong, people may take that as a sign that rates will rise as soon as at the June meeting.
Mark Bryant
I think any news out of OPEC tomorrow is likely to provide more of a psychological boost than anything else,
Mark Bryant
I think next week will be dependent on the Iraqi elections, ... If things don't go too badly, there is little bloodshed and a clear winner, it will be another step forward for the country.
Mark Bryant
The market has every reason to trade down, and so far I think it's showing some resilience,
Mark Bryant
But in general, the sentiment is very negative right now, ... There's just very little reason to put money to work. It's also historically a tough time for stocks, through October.
Mark Bryant
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