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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I think we're going to see the preliminary GDP show that this economy is flat or even negative. But that's old news. What the market needs to focus on is numbers that show us we are beginning to rebound.
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I think we're going to see a very choppy market for the next few weeks, as we get closer to the election, unless oil prices move sharply one way or the other.
across rally
The rally was pretty much across the board.
economy economy-and-economics numbers
There aren't any (economic) numbers to say, 'Hey, the economy is slowing,' or 'Hey the economy is strengthening,'
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If we see any upward revision (in unit labor costs) that would give the Fed reason not to pause.
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If the dollar continues to fall, and we end up in a free fall, at one point the Fed will have to be more aggressive, ... They may have to respond by raising interest rates by half a point.
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If the CPI core rate shows not much of a rise then the market will be able to just focus on good earnings. It will show that the Fed is staying ahead of the inflation curve, which is a positive for the market.
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If the Fed doesn't at least hint that a pause could be on the way, I think that would surprise the market.
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If the Asian crisis deepens, that simply means that corporate profits are going to suffer.
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If oil prices continue to rise and there's an escalation of the situation in the Middle East, the question would come up, are we headed for some type of OPEC embargo and where would that send prices. It seems like all of the negative news that possibly could be surrounding the oil market is at hand.
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If oil goes higher, it could mean we may be headed for a correction.
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If oil continues to stay at these levels for a sustained period, it will bite into economic activity and renew inflationary pressure. That could put into question if and when the Fed will end its tightening cycle.
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There are so many positive factors that led to today's rally. Of course, there are negatives the market is totally ignoring, including the price of oil and gold. Ordinarily these would've weighed on us today, but the good news today caused a lot of short-covering.
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He might fine tune his testimony (of last week) and that could help the markets.