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Pisani: Why Market Bears Ruled Tuesday

Bears had the upper hand today.

Bears:

-- oil prices at highs, not backing down
--dollar rally evaporating
-- inflation trends clearer (core PPI stronger than expected validating pass-through from commodity inflation)
--retail & financials turnaround less certain
--visibility poor
--volume trends poor

But bulls were not silent.

Bulls:

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

Wall Street