Peter Cardillo Ahead Quotations

Until there is a positive indication in economic data that the economy is slowing down, the Fed has to stay ahead of the curve.

Obviously, the market was disappointed in Apple and AMD; and you also have to realize that Mr. Greenspan has been reiterating his stance on inflation and the need to stay ahead of the inflation curve,

If the CPI core rate shows not much of a rise then the market will be able to just focus on good earnings. It will show that the Fed is staying ahead of the inflation curve, which is a positive for the market.

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,

I think the market has gone ahead of itself and I am looking for this market to pull back somewhere between five and six percent within the next six to seven weeks.

I think you're seeing buying today because of anticipation ahead of some of the economic and corporate news due in the next two days, particularly Dell tomorrow.

Markets are basically in a holding pattern. We had some good economic numbers, but it's Friday ahead of a long Christmas weekend so people aren't going to make much a commitment.

UAL is certainly a negative for the market, but the news wasn't entirely unexpected. You're also seeing a combination of other negative corporate news and jitters ahead of tomorrow's November jobs number, despite the positive weekly numbers this morning.

There's no question it's earnings-driven. The rally continues to move ahead but on a rotation basis. There are two things driving the market - earnings and economic data. Today's market seems more based on earnings than economic data.

There was some light profit-taking ahead of the (Easter and Passover) holidays. Volume is not that heavy and people are just waiting on the sidelines.

There's a little volatility on the downside ahead of the long weekend, so we're seeing money flowing out of the Dow and selectively going into the tech arena. Industrial stocks are not doing so well.

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.

If there are any indications that this could be the last cut, the market might be disappointed -- but the good news would be that the Fed is confident we are in an economic rebound. In essence, the market could work its way higher because better economic times ahead would include better earnings performance.

All in all, I think we're looking at a mixed reading in economic data but pointing to growth ahead. I think it'll continue to support a bullish atmosphere. Right now we're just looking at cautious trading ahead of the numbers and due to Europe being a little soft.