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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
BECKY QUICK, CNBC ANCHOR: It`s that record oil price that is rattling Wall Street and sending shudders through even the staunchest bulls. Now, this man has been a Bull for more than four and a half years, but today, in a first on CNBC appearance Art Hogan, chief market strategist at Jeffries, is changing his fur. Yes, that`s right. The long-term Bull, Art Hogan, is going Bearish.
Art, thanks for being with us today. What is it that makes you turn around and change your mind on these markets? Is oil the biggest reason?
ART HOGAN, CHIEF MARKET STRATEGIST, JEFFRIES: I think oil is probably the top three reasons that you really have to take a good, hard look at the headwinds that are facing the market today. Obviously, energy prices have gone, over the last 18 months, from $40 a barrel to $67 today. So that certainly is one of the largest drivers and causing the most trepidation.
But also bear in mind; we`re looking at a market that is facing an increasing interest rate environment. We really don`t...
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