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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Some of the good earnings reports and good guidance are reversing market psychology. In general, we're probably heading for a good earnings season.
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We have the weapons inspectors returning, mixed corporate reports and no new economic news to focus on, so stocks are taking a little pause, ... The broader market is mixed to lower but is showing no great declines, while the techs continue to perform a little better.
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The two reports don't constitute a change of direction for the economy, but they are negative enough to make investors feel more cautious about the recovery.
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The fact that the Nasdaq breached 2000, an important psychological level, but managed to close above it several times now over the last week is a positive. But I think we're going to continue to see this consolidation for at least another week or so until more of the March economic reports start coming in.
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I think the market is responding pretty well to the reports and also positioning itself ahead of the economic news due later in the week,
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Basically the market is responding to the latest earnings reports and waiting to see what happens with Apple Computer after the bell.
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The market is ignoring some of the negative economic reports and is instead focusing on the positives, like GE, which is a big change in terms of the focus and the psychology.
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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.
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Unless he should say something really out of the ordinary, which is unlikely, I think his comments will likely have a limited effect on stocks,
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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.