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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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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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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The good news is that we have a strong economy and there's no inflation, ... Investors are starting to realize the Fed may not need to be that aggressive.
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That's positive for the market, because consumers feel the economy is going well. After yesterday's (Monday's) declines, people are coming back into the market and earnings are good.
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The perception is turning toward the fact that the economy is slowing and we can still continue to grow even if the economy grows at 5 percent.
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We're in uncharted times here, both for the economy and for the stock market. Some of the old rules just don't apply to global economics and to the global mechanism of how things are working.
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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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This market is grossly oversold. There has been a lot of stimulus added to the economy, so somewhere along the line a recovery will take place.
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It is obvious that the economy continues to grow and that the job market is growing. Today's numbers are offering investors a sense of relief that perhaps the Fed may not have to be too aggressive in raising interest rates.
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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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There aren't any (economic) numbers to say, 'Hey, the economy is slowing,' or 'Hey the economy is strengthening,'
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Once everyone sifted through all the comments, the realization was that he hasn't changed his thoughts about the economy. He doesn't think the economy is ready to fall off a cliff, and that's basically a strong fundamental for the stock market.
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The good earnings news is really taking hold. Some of the warnings from last week are less of a factor in the marketplace now.
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The economy is already weak and this is adding to the woes. It's a lose-lose situation. If the situation is settled soon, we go back to the same soft economy. If the situation is not settled soon, we get an even softer economy.