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 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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When you have M&A (merger and acquisition) activity continuing, it's a sign of stronger economic activity ahead. The market probably will focus on the economic data; I suspect the driving factor of the day could be the ISM index.
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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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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.
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I suspect the main focus of the day will be the Fed minutes. It looks like we'll get a strong start on the strength in overseas markets, but we'll probably be trading sideways until the minutes are released.
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I think what you're seeing is the process of the market setting a bottom. Obviously, September is living up to its reputation (for volatility), but I think the market will eventually lose its bear grip and focus on the economy and earnings going forward.
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I think this market now is basically trying to stabilize. The market will probably begin to focus on economic activity rebounding in the first quarter.
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I think this market now is basically trying to stabilize, ... The market will probably begin to focus on economic activity rebounding in the first quarter.
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I think we're going to see the preliminary GDP show that this economy is flat or even negative. But that's old news. What the market needs to focus on is numbers that show us we are beginning to rebound.
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Although we had good earnings from Caterpillar, earnings are becoming less of a focus.
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In the past five to six weeks, blue chips got battered somewhat. As we approach the end of the quarter, now that they've come down in price, institutions are focusing on them again.