The world is looking for lower interest rates. Clearly, the psychology world-wide remains highly nervous.

The psychology of the world market is such that Iran does not even need to be credible about carrying out its threat. It only has to bring it up for prices to skyrocket.

Not even the most dovish of forecasters expects interest rates to be cut at Thursday's meeting.

Techs have gone from terrific to tepid to terrible,

Apache has outperformed the market. It's up 9.8 percent so far this year, ... Apache is a driller that also benefits from increased business overseas. That means that the lower dollar is a benefit to them. They've got a big find in Egypt. It's an independent oil and gas company that I think has lots of room to run. I wouldn't be afraid to buy it here. It's been a market leader even over the last 12 months.

I think it's a constructive move. He's an experienced hand who is clearly effective in dealing with bright, energized thinkers. I don't expect the Senate to have many problems with this nomination.