Peter Cardillo
Peter Cardillo
1972 Harlem mosque incident describes the April 14, 1972 shooting of a New York City Police Departmentofficer at the Nation of Islam Mosque No. 7 in Harlem, Manhattan, New York City. The officer responded to a fake 9-1-1 call, was shot and died six days later. The incident sparked political and public outcry about mishandling of the incident by the NYPD and the administration of Mayor John V. Lindsay...
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We're seeing some cautious trading right now, but the volume is decent, the momentum is on the upside and traditionally, this is a good week for the markets.
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We're seeing more and more that Japan wants to implement banking reform. That's the key. That's very positive.
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We're seeing a cautious market because of the Fed meeting. There are a lot of events the markets need to sort through, and the most important one is Mr. Greenspan.
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There are some good stories out there, and I think people are looking at them. You have the tech stocks doing better than the other, with chips up because of TI. There are also a few specific issues that continue to hold the Dow back again, as was the case yesterday.
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There are some good stories out there, and I think people are looking at them, ... You have the tech stocks doing better than the other, with chips up because of TI. There are also a few specific issues that continue to hold the Dow back again, as was the case yesterday.
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There is no question that the State of the Union message last night was very strong and very positive. Obviously the economy continues to do very well. Inflation is low and interest rates are still very low.
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Until we get the full force of earnings and economic data later in the week, I kind of expect us to remain at the lower end of the trading range,
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Until there is a positive indication in economic data that the economy is slowing down, the Fed has to stay ahead of the curve.
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We are already seeing some signs of a slowdown in the economy. If durable goods confirm what housing starts voiced last week, then obviously we might see a little bit better tone in the bond market.
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With the price of oil moving up and the tension in the Middle East would suggest that the possibilities of a recession are increasing in terms of inflation, ... The Fed's number one target is to keep inflation under control. If energy prices continue to accelerate then the Fed doesn't need to raise interest rates because the economy is going to slow anyway.
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The deal is positive for the market as it helps clear the air. Obviously, restrictions are going to be tighter in the future.
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The deal in Internet helps, but the real reason the market is faring well is because of the end-of-quarter window dressing.
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The fact that the Nasdaq breached 2000, an important psychological level, but managed to close above it several times now over the last week is a positive. But I think we're going to continue to see this consolidation for at least another week or so until more of the March economic reports start coming in.
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The fact that the market is continuing to stay at the upper end of the trading range, even with oil prices continuing to hover around their highs, is positive, it indicates investor confidence.