Oil prices are slipping, and that's generally good news for the market.

While today's news is very positive, I think the market is likely to remain caught between very good economic data and the worry that things aren't going to get any better from here. I would expect us to continue being pulled back and forth in this trading range we've been in for most of 2004.

The market is reacting to the rise in oil prices and the conflicting economic news.

Those high oil prices are a burden on U.S. families, on firms' production costs. But the good news is that at least so far the U.S. economy has not been slowed by the high energy prices.

I think the record-high oil prices are still weighing on the market, ... Also, the Merck news is now spilling over to Pfizer, J&J and the blue chips.

Stocks have been flat, in line with the high levels.