Take on the ticker

Thomas Rowen, director of institutional portfolio management, Fifth Third Bank, Chicago.

Between soaring fuel costs, stiffer competition, bankruptcies and now the FAA crackdown that led to thousands of flight cancellations this week, do you see the airline industry ever recovering?

"I don't see an airline industry recovery in the near future. As long as we have high energy prices, especially jet fuel prices combining with further softening of the retail and consumer economy, which has been a double blow to the airlines, we'll continue to see a softening. Consumers will continue to cut back in business travel and leisure travel. The airlines continue to face a major problem as long as oil remains in the $110-a-barrel range. There is not much they can do to hedge jet fuel costs, which will remain under pressure for quite some time."

Washington Mutual just received a $7 billion infusion of capital and there are numerous banks on the FDIC watch list. Do you see any relief for the banking industry?

"I do. There are a number of factors at work here, which may not be in play for every financial institution. Some with exposure to any kind of commitment to the subprime debt -- but it doesn't affect all banks -- they're now getting through the financing of that problem. The general credit problem is being handled by the Federal Reserve, (and) they've got a long-term handle on that. And the spreads between what the banks receive for lending and what they pay in deposit interest was tightened. … So I see that over the next three quarters, we'll see improvement."

Consumer confidence is at an all-time low. Will this have a further trickle-down effect on the economy?

"Normally, there is a disconnect between consumer sentiment and the actual retail spending surveys. Sometimes, they didn't connect. Now, we're seeing really declining consumer sentiment numbers and the impact on actual retail sales. This has been an accurate reflection now that consumers are concerned and stressed by higher food and energy prices and an up-tick in unemployment."

We're approaching that infamous April 15 deadline for filing our taxes and then, hopefully, collecting our federal tax rebate. Will that extra check really help boost the economy?

"You'll see a short-term boost when you drop that much money into the hands of taxpayers. You'll see a benefit, more in the third quarter. But it's not a lot per individual or family. So I don't see this having a long-term impact."

What should we be watching for in the week ahead?

"There will be a lot of corporate earnings released starting (this) week and over the next four to six weeks. There is also a lot of economic data due out. Monday, we'll see retail sales, which will be important because of the focus on the consumer. Then on Tuesday, expect the Producer Price Index and, on Wednesday, the Consumer Price Index. There also will be a lot of housing starts and building permits that will be important, along with leading economic indicators."