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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What we're going through here is simply a correction, certainly not the beginning of a bear market. Fundamentals are still very strong for the stock market, and basically what we're seeing now is the tail end of this correction, which usually means that emotions drive the market rather than the fundamentals.
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Energy prices are the reason for this. The crisis in the Middle East is obviously going to keep the price of energy at a strong level and that means this market is going to now be fearful of inflation exploding. We could be in for a further bumpy ride.
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It's a little bit of a divergent market. There's some money on the sidelines coming into the tech stocks, and any meaningful rally from here will probably be led by the tech group.
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It's one of those days where investors are looking at the strong economic news for what it says about the economy, rather than what it could mean for interest rates.
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Oil prices are under $60, and the sun is shining here in New York, and so it means the Northeast is enjoying pretty comfortable weather and that's probably going to have an influence on oil prices today,
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An undecided consumer simply means that he may soon begin to pull in his spending habits. Two-thirds of the economy is being supported by the consumer.
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If the Asian crisis deepens, that simply means that corporate profits are going to suffer.
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If oil goes higher, it could mean we may be headed for a correction.
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The market continues to roar. Psychologically, it means a lot. It means the market will continue to move higher.
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What we're seeing is typical of a market that is trying to make a bottom, but we're not necessarily there yet.
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What we're seeing here is investors becoming increasingly nervous, awaiting the economic data tomorrow (Thursday). Profit warnings and future growth (concerns) are overshadowing the enthusiasm that we saw develop late yesterday -- it's a feeding process.
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What we're seeing here is a market that's just waiting to assess economic data later in the week and, of course, moving into the earnings season.
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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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Unless some real news comes out that could accelerate impeachment talks, it's probably already been discounted, ... Big deal, we're going to see the president get angry, say a few curse words.