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 can't continue to have oil prices rise without impacting prices and economic activity. Somewhere along the line it will have a negative impact.
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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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Basically we had some good overseas trading. I think that is basically propelling us to a higher opening here. I just think the market is living with the fact that oil prices are trading around these levels, and it's getting a lift from the 10-year yield being below 4.60 percent.
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One of the three things worrying the markets for weeks -- namely, interest rates -- has diminished, today, ... But the geopolitical incidents and higher oil prices -- which are connected -- have sent a chill through global markets, creating this buyer's strike, and we're following suit.
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Obviously we're looking a relief rally here. The hurricane damage was less expected, and that has sent oil slightly lower. But in the next few days we'll see an increase in pre-earnings warnings that will in the short-term will contain the rally.
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Obviously, this is going to raise the level of speculation and fear. And the news may impact oil prices, sending them higher, which would cap equities.
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The backup in oil prices due to intensifying geopolitical problems is obviously weighing and will overshadow any bullish sentiment that's linked to earnings or economic data.
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It's a very strong rally and it's right across the board, with tech stocks leading the way, ... Clearly, the fall in oil prices sparked this, but it's also a short-term shift in sentiment.
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The fact that oil fell out of bed is certainly propelling the market today,
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We did get surprising oil inventory data, but it's still below that $60 range. The market is running against options expirations, which are causing technical difficulty.
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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 seeing some profit taking but a strong build-up in inventories could send the price of oil under $60 and that could reverse market psychology.
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With the price of oil moving up and the tension in the Middle East would suggest that the possibilities of a recession are increasing in terms of inflation, ... The Fed's number one target is to keep inflation under control. If energy prices continue to accelerate then the Fed doesn't need to raise interest rates because the economy is going to slow anyway.
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The fact that the market is continuing to stay at the upper end of the trading range, even with oil prices continuing to hover around their highs, is positive, it indicates investor confidence.