As rally continues, what could possibly go wrong?

Market on the rise
Market on the rise   

With all that has gone right for the stock market, it's hard to imagine anything that could go wrong.

One clue could come from interest rates, which have climbed despite the Federal Reserve's efforts to keep them exceedingly low.

Along with the late-year stock rally came a rise in the 10-year Treasury yield to 3 percent, a number that could serve as an important test for whether the rally will continue.

CNBC's Patti Domm and Jeff Cox discuss what the ramifications of rising rates could be and what investors should be on the watch for.