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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We need some sort of correction. And I think it can come very quick and fast, and then the market will continue to do well simply because the economy continues to do well.
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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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Old economy stocks are feeling the pinch in fear that rates are going much higher.
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The recent rally is being supported today by the strong economic numbers, which indicate that the economy is growing at a faster clip,
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This trade deficit news certainly points in the direction that the U.S. economy is slowing.
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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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Obviously they (investors) are going to focus on the Fed but a rate cut is priced in. The focus will be on the economy and signs that the first batch of interest rates are finally taking hold.
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Concerns remain that the economic data indicate the economy could slip back into a recession. Looking at technology, the fears are back in the market that third-quarter earnings may not live up to expectations.
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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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What's shaking the market is oil and the aftermath of the hurricane, ... Every time the price of oil moves into new, higher territory that creates worries about the strength of the economy going forward.
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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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There is no question that the State of the Union message last night was very strong and very positive. Obviously the economy continues to do very well. Inflation is low and interest rates are still very low.