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 market should keep doing well in the short term. There's the seasonal factors, the economy should keep doing OK, and from a technical standpoint, things still look good. I think that's why the market has been able to ignore the negative implications of the collapse of the dollar so far.
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I think we'll see a higher market in 1998, ... The economy is very sound. We've had inflation low, going lower, and we'll see disinflation rather than deflation.
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That's positive for the market, because consumers feel the economy is going well. After yesterday's (Monday's) declines, people are coming back into the market and earnings are good.
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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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Old economy stocks are feeling the pinch in fear that rates are going much higher.
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Investors will continue to monitor what happens in the economy because once the economy picks up, earnings will improve.
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I think there are some signs out there that the economy is beginning to slow. That's going to keep the Fed on the sidelines at least through May and it's also eventually working its way into the markets.
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An undecided consumer simply means that he may soon begin to pull in his spending habits. Two-thirds of the economy is being supported by the consumer.
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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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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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The good earnings news is really taking hold. Some of the warnings from last week are less of a factor in the marketplace now.
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I believe the worst of the decline in the 'old economy' stocks is over, ... and I think what we're seeing here is a consolidation phase, even though this consolidation phase is probably taking place at the lower end of the trading range. I don't believe that yesterday's decline in Nasdaq is the beginning of any major correction just yet. Now, that is not to say that we're not going to have a correction. Indeed, we are. But I just believe that there is sufficient money out there and sufficient demand for these tech stocks yet, and that is not going to disappear so quickly. What we saw yesterday was little profit-taking after a spectacular week.
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As long as the economy doesn't go into a recession, I think these (smaller) companies will continue to outperform large-cap stocks,
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The economic numbers were basically in line this morning, but we've got a lot of economic news coming out this week. Earnings are pretty much over with, and they were pretty mixed, so investors are now looking to see that the economy won't stall in the second quarter before they're going to be willing to buy.