Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
Last year's 30-percent stock market rally was powered largely by value stocks—those with low valuations that investors believe can jump higher—that looked like they had nowhere to go but up.
Almost on a dime, however, that belief has changed in recent trading days, with investors looking to put their money elsewhere as growth stocks—health care and biotech are two of the current hot hands—gain preference.
In the U.S. there may be a fairly large appetite for clamping down on Russian aggression in Ukraine and Crimea. In Germany, though, the clamor is decidedly more subdued.
Patti Domm, CNBC's executive news editor, found in a trip to Germany that there's little appetite for additional sanctions against Russia, despite global outrage.
So how will the conflicting dynamics play out in the markets?
Though there was some near-term volatility, overall the market has taken a mostly benign view of the tensions, according to Jeff Cox., finance editor at CNBC.com.
The two hash out the implications in the video.
—By CNBC's Jeff Cox. Follow him on Twitter
Friday's nonfarm payrolls report stunned Wall Street, which had been trading on the notion that the economy was on a steady trajectory higher.
Whether it was just the weather or something worse, stocks moved lower in the afternoon as investors began to wonder whether the Federal Reserve had gotten ahead of itself in reducing its monthly stimulus program.
It was setting up to the first losing day for the market after eight-straight positive "Jobs Fridays."
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.
Just a few weeks ago, Wall Street figured it had a friend in the Federal Reserve until at least May. Those expectations suddenly have begun to change.
Strengthening economic data, particularly concerning employment and gross domestic product, have investors concerned that the central bank will begin reducing its monthly asset-purchasing program as soon as next week.
Consequently, gold prices took a battering Thursday. The stock market has been on a steady slide lower, as well.
CNBC's Patti Domm and Jeff Cox discuss the possible further implications of Fed tapering.
November's nonfarm payrolls report offered a little bit for everyone.
There is proof that the economy recovered in terms of the 203,000 jobs added.
There was the substantial drop in the unemployment rate that for once could not be attributed to a shrinking labor force.
And there was even more impetus for the Federal Reserve to begin easing back on its monthly stimulus program, but not by so much that it would come as a shock.
The budget battle may be over but there's a war yet to be fought, leaving investors in a potentially precarious position as Washington's political troubles fester.
On a broad basis, markets have reacted little since the debt debacle and accompanying government shutdown began.
But that can change, and a Wall Street convinced that the Federal Reserve can bail it out of any trouble may be in for a surprise.
CNBC.com's Jeff Cox and Patti Domm hash out the particulars and lay out the bumpy road ahead.