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 likely to remain in a broader trading range for the time being.
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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.
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I wouldn't be a bit surprised to see this market sell off. We could see a 5 percent correction.
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I suspect the main focus of the day will be the Fed minutes. It looks like we'll get a strong start on the strength in overseas markets, but we'll probably be trading sideways until the minutes are released.
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I suspect over the next session or two, we could see more selling, as investors await all the economic news due next week,
across rally
The rally was pretty much across the board.
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There aren't any (economic) numbers to say, 'Hey, the economy is slowing,' or 'Hey the economy is strengthening,'
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He might fine tune his testimony (of last week) and that could help the markets.
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Some of the good earnings reports and good guidance are reversing market psychology. In general, we're probably heading for a good earnings season.
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Some of the economic data we have been seeing are quite strong, but -- if you really look into it -- there are signs the rate hikes we've seen have begun to slow the economy.
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From an interest rate standpoint, it's negative. On the other end, if the economy stays strong, corporate earnings will stay strong.
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From a 'wall of worries' standpoint, the market needs to be assured that there are no other casualties out there that are going to report weaker earnings, and from an energy standpoint, prices have got to move lower.
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From a technical standpoint, the fact that the market is testing the lower end of the trading range with low volume suggests the risk of the yearly lows being tested increases.