Stocks have been following oil prices up and down. And in the meantime, if a company comes with strong numbers, investors stick to it.
Stocks started the day on a positive note and the verdict on Merck gave the bullish investors out there another incentive to buy.
Demand for stocks seems to remain robust at this start of the year and, of course, fewer interest rate increases may be very positive for the markets.
The consumer confidence report will be closely watched to see if higher energy prices are hurting household budgets.
Between now and the end of the year we are going to see a decline in activity, with lots of balancing in portfolios, which may push some stocks down.
Crude is down, but it's still much higher than it was last year, the same with natural gas. When investors see their October statements, they're not going to be too thrilled and that's not good for November.
Chico's is a great company, and even though it did well last quarter and everything is fine, people are starting to discount a slower future.
Investors are likely to remain defensive for a while in regards to stocks. The second half was expected to be great in terms of earnings, but with oil prices at these levels and the hurricane, we might see a sharp drop in results for some companies.
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