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...
broader continue corporate economic focus great lower market mixed news perform reports showing stocks taking weapons
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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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 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.
above close coming continue economic fact last march reports several start until week
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.
ahead due economic itself later market news reports responding
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,
earnings good guidance heading market reports
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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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.
consumer data inflation key opening remain stock weaker
We are bracing for a weaker opening with a slew of data being released, ... Consumer confidence, inflation and of course, oil, will remain key indicators for the stock market.
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We saw that in the brokerage houses with the consolidation and that's exactly what's happening in the telecommunications sector. And I believe however that there are those companies out there either through perhaps future mergers that will make it and two of them that I like for the long-term is AT&T and WorldCom, ... I think somewhere along the line they might be bought out by some major international concern but it think if you have those stocks it was good at these levels probably to begin to average out.
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These stocks are the forgotten group -- they continue to stay dormant and move lower, but they actually become a good buy,
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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.
expect fourth happens past quarter third
I still expect the third quarter to be respectable but that's a thing of the past. But what happens in the fourth quarter (is the question).
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Energy prices, earnings and the fall of the euro all continue to add to that wall of worry and the market is trapped here in a sea of uncertainty, ... There are no buyers and the selling just feeds on itself.
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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.