Interest rates matter and there are concerns about the economy. These things make the market more hesitant. Growth is evening out and markets are coming to grips with that.

There are some big concerns about the U.S. economy and the stock market will struggle a bit. Interest rates do matter.

The possibility of rising interest rates worries investors. For many companies there is a direct effect on their earnings and stocks can also become less attractive to bonds.

The oil rise benefits energy stocks, shares are fairly valued and we expect decent earnings this year.

In 2005 it seemed the local economy was growing at an unusually overheated pace. As interest rates continue to rise, I would expect things to slow down a little. Even if there is a slowdown, there are so many things already on the boards, especially in construction, that it shouldn't be a big slowdown.

We are still seeing buying of interest-rate-sensitive stocks. Investors believe the U.S. economy is slowing more than they thought and the U.S. may now cut interest rates by more than 100 basis points next year, instead of just 75 basis points.