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.
Today's data confirmed that big industry is still booming and, of course, that lends support to the big names in that sector.
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.
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.
Stocks have been following oil prices up and down. And in the meantime, if a company comes with strong numbers, investors stick to it.
With oil prices at these levels and without a clear assessment of how deep and lasting the impact of Hurricane Katrina will be on the U.S. economy, investors are likely to be defensive in regards to stocks.
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