Market wisdom at a glance * SignalTube

References Bob Michael's view that US consumer can live with $100 oil.

Host/Speaker1

Guest/Speaker2

Agrees US can handle $100+ oil based on March data, but Asian economies (Australia, Philippines) face pressure due to Middle East oil dependency.

We've seen that throughout the month of March that a hundred dollar oil maybe even slightly above that is not going to really impair the U.S. economy.

Guest/Speaker2

Higher oil prices needed to trigger pullback; will know in 1-2 weeks if situation is more protracted than Wall Street assumes.

We're probably going to have to see much higher prices in order to pull back if this is going to be protracted.