It's a big week on the international front and not just from our side. The Bank of England and the Bank of Canada will be making announcements next week plus the Bank of Japan says it's going to start draining liquidity from its system in advance of its first rate hike in years.
More Quotes from Paul Mendelsohn:
It's a heavy earnings day, so we're going to get a good feel for earnings from a number of different sectors. So far earnings have been good, with 70 percent of companies beating expectations.Paul Mendelsohn
I think the issue that dominated today was the Wal-Mart announcement, because it made investors wonder if we're going through another slowdown, ... That certainly weighed on stocks.
Paul Mendelsohn
The yield curve is beginning to frighten people.
Paul Mendelsohn
The big problem for the market has been the news flow. Energy prices continue to rise, gold prices continue to go up and earnings are coming in very mixed.
Paul Mendelsohn
It wasn't a good day across a lot of sectors. The rise we saw in the 10-year Treasury spooked some investors today. With the yield curve flattening, it could translate into a slowdown in the housing market.
Paul Mendelsohn
The G7 meeting is probably going to be pretty contentious. It remains to be seen if anything comes out of it that would influence the dollar on Monday.
Paul Mendelsohn
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