When the strategist at Goldman Sachs reduced her recommended weighting on equities it sent the market into the red right off the bat, and ended up lower pretty much across the board in Canada and the U.S.,

Right now there's concern again reemerging in the market that the Fed (U.S. Federal Reserve) is going to become more aggressive,

The low jobless rate, the steady upward creep in wage increases and the solid employment gain will all help convince the Bank of Canada it is on the right path by continuing to tighten policy.

The bottom line is that as long as equities remain aloft, there is precious little outside of Fed tightening to cool growth, ... And that tightening may need to be much more aggressive than the market currently expects to bring (economic) growth closer to the Fed's comfort zone of around 3.5 percent.

The overriding story for the equity market Thursday was the exuberant reaction to Mr. Greenspan's latest musings,

The overriding story for the equity market Thursday was the exuberant reaction to Mr. Greenspan's latest musings.