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...
aggressive coming cycle fact fed financial headed light market nearer nice phase rather stocks summer technology tells volume
I think the light volume on the market tells me that the market is in a consolidation phase and that we're headed for a nice summer rally. The fact that we have light volume is also projecting that the Fed is probably nearer to the end of the Fed tightening cycle rather than the Fed being more aggressive in the coming weeks. I think the technology stocks are going to come back strongly. And I think financial stocks are going to do well.
change help
I think that if GE or Citigroup say something upbeat, that could help change the mood,
ahead buying corporate due economic news next seeing today
I think you're seeing buying today because of anticipation ahead of some of the economic and corporate news due in the next two days, particularly Dell tomorrow.
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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.
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Futures are pointing up a little bit. I think we will see a typical August Friday: Low volume and no economic data. I think we will see some winding and grinding for most of the day.
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I don't think we're close to a bottom yet. There's just an absence of buyers, and as a result the market continues to work itself lower. But having said that, when it stages a turnaround, it will be quick, vivacious and violent.
although bias expect neutral stay
I expect they will stay the line, although the possibility of going from a neutral to a tightening bias has increased.
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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.
fed pause surprise
If the Fed doesn't at least hint that a pause could be on the way, I think that would surprise the market.
asian corporate crisis means profits simply
If the Asian crisis deepens, that simply means that corporate profits are going to suffer.