I don't see that there's any motivation to move higher. The concerns about interest rates, oil prices and Iraq aren't going away. I think we're going to stay in a volatile range. The best we can hope for is the market to move sideways for a while.

Donald Selkin

Interest Iraq Motivation Oil

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The oil issue is continuing. It has a huge effect on market sentiment and on consumer spending.

— Donald Selkin

Between Texas Instruments, the rise in oil prices, and commodities, we got hit today. But the decline wasn't terrible. Last week we had nice gains, and today, we're kind of consolidating.

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I think it's interesting that on a day when crude oil closes over $50 a barrel for the first time, the market is flying.

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The silver lining on this is that it confirms that the Federal Reserve will not be raising interest rates anytime soon, which is good news for the market.

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Bush wants to prove that he has no interest in the Iraqi oil by doing what he did to Iraq.

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