Earnings are still going to grow as interest rates and inflation remain low.

For two years, we've seen this tremendous increase in prices, yet the core inflation rate has stayed at 2.3 percent or less, and the only explanation for that is globalization means inflation is contained.

We have two surprises in our economy: better-than-expected growth and lower-than-expected inflation, and the growth is based on productivity, ... People are working harder. They're generating more products efficiently at lower prices.

It isn't a market that has matured, but there is more interest. Given where inflation has been - I've seen it up 10 to 12 percent - this is a market that should do much better.

The fundamentals are still there. We have low inflation, low interest rates and a worldwide demand for American products I don't think you have a problem as far as the market going up.

With higher gasoline prices putting a dent in consumer spending and underlying inflation looking to be contained, further interest rate hikes seem unnecessary.