PIMCO's Mark Kiesel says the main risk to the U.S. is a pickup in inflation. Prior to that, Jason Trennert, Strategas Research Partners' chairman, says the Fed is content to let inflation run a little hot. Stewart Warther, BNP Paribas' derivatives strategist, says there is less informational advantage in recent years. John Kernan, a consumer research analyst at Cowen & Co., says things are going to get ugly in retail. Finally, Drew Matus, UBS' deputy chief U.S. economist, says he is anticipating an unchanged unemployment rate on jobs day.

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