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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The selling in financials is an anticipation of lower earnings due to a slower economy, ... From the point of view of interest rates not going up, it's positive.
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People realize we have an employment number, and if it shows accelerating wage pressure, that would rekindle the fear that the Fed may have to raise (interest rates by half a percentage point),
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Core rate came in better than market expected, showing that inflation remains tame, ... Good news and the market should react positively, but the Fed will continue to raise rates. A good report.
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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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Old economy stocks are feeling the pinch in fear that rates are going much higher.
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Mr. Greenspan may have just given us some time here. I think within the next 10 to 12 days this market is probably going to consolidate and stay with a 300-400 point range. ... When we get another interest rate cut, then the market can sail above that 9,000 level.
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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 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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It's quite obvious that the market has been rallying for the past four days, hoping for a 50-basis point rate hike by the Fed -- and they (the Fed) did (raise rates that much). This indicates they are ahead of the curve, but now reality sets in and we're in a trading range.
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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.
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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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This is positive in the sense that central bankers believe the global economy is strong enough to raise rates to contain inflation.
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This couldn't have come out at a worse time, because we have the new Fed chairman testifying tomorrow. It will raise anxiety over the Fed's interest rate outlook.
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This does open the door perhaps for an intra-meeting interest rate cut, ... We could see a cut over the weekend.