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...
based catch economic good higher lack market move news next solid struggling trading volume
Right now, there's just a lack of solid trading volume out there, so we're struggling to move higher based on the good news we have. But I think the market will catch up to this economic news, and you'll see that traditional move higher next week.
ahead based continues driving earnings economic market move question rally rotation seems
There's no question it's earnings-driven. The rally continues to move ahead but on a rotation basis. There are two things driving the market - earnings and economic data. Today's market seems more based on earnings than economic data.
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It doesn't surprise me. We all know the House is going to vote to impeach the President. The fact is that economic times here in the United States are still quite good.
along continue economic line negative oil prices rise somewhere
We can't continue to have oil prices rise without impacting prices and economic activity. Somewhere along the line it will have a negative impact.
above absence economic market move oil took wind
M&A propelled the market earlier, ... But an upward move in oil above $66 took the wind out of the market in the absence of economic news.
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The advance is on the heels of good economic numbers this morning. Chicago PMI in particular took people by surprise. You also had some good earnings news from Disney and Honeywell, ... That turned the dollar around, which in turn pushed some of the geopolitical issues on the back burner. For a Friday, this is pretty good.
broader continue corporate economic focus great lower market mixed news perform reports showing stocks taking weapons
We have the weapons inspectors returning, mixed corporate reports and no new economic news to focus on, so stocks are taking a little pause, ... The broader market is mixed to lower but is showing no great declines, while the techs continue to perform a little better.
corporate earnings economy economy-and-economics interest rate stays
From an interest rate standpoint, it's negative. On the other end, if the economy stays strong, corporate earnings will stay strong.
august economic grinding low pointing typical volume
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 believe the worst of the decline in the 'old economy' stocks is over, ... and I think what we're seeing here is a consolidation phase, even though this consolidation phase is probably taking place at the lower end of the trading range. I don't believe that yesterday's decline in Nasdaq is the beginning of any major correction just yet. Now, that is not to say that we're not going to have a correction. Indeed, we are. But I just believe that there is sufficient money out there and sufficient demand for these tech stocks yet, and that is not going to disappear so quickly. What we saw yesterday was little profit-taking after a spectacular week.
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Now you have the Bank of Japan, the European Central Bank and the Federal Reserve all with the same interest-rate policy, and that's very positive. It's a strong indication that global central bankers will contain inflation and not necessarily choke off economic activity, which has been a big concern here.
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When you have M&A (merger and acquisition) activity continuing, it's a sign of stronger economic activity ahead. The market probably will focus on the economic data; I suspect the driving factor of the day could be the ISM index.
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We've had a good week, and now we're seeing some profit taking, as the market positions itself for next week's economic news, and of course, the earnings,
economic economy faster growing indicate rally recent strong supported today
The recent rally is being supported today by the strong economic numbers, which indicate that the economy is growing at a faster clip,