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 earnings period has been pretty good so far, ... But its having a limited impact on stocks because the market is discounting higher interest rates in the months ahead.
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This couldn't have come out at a worse time, because we have the new Fed chairman testifying tomorrow. It will raise anxiety over the Fed's interest rate outlook.
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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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It's one of those days where investors are looking at the strong economic news for what it says about the economy, rather than what it could mean for interest rates.
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No one expects the Fed to raise rates, but people are interested to see what they say about the economy, particularly about employment.
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One of the three things worrying the markets for weeks -- namely, interest rates -- has diminished, today, ... But the geopolitical incidents and higher oil prices -- which are connected -- have sent a chill through global markets, creating this buyer's strike, and we're following suit.
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Basically, the market is fearful now that the Fed may need to be more aggressive in raising interest rates.
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The market is still very concerned with interest rates, and the IBM announcement gave the market a perfect excuse to refocus on higher interest rates.
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If the dollar continues to fall, and we end up in a free fall, at one point the Fed will have to be more aggressive, ... They may have to respond by raising interest rates by half a point.
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From an interest rate standpoint, it's negative. On the other end, if the economy stays strong, corporate earnings will stay strong.
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This does open the door perhaps for an intra-meeting interest rate cut, ... We could see a cut over the weekend.
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The retail sales are a real blow-out number. They show that economic activity is healthy but they will also ignite fears that the Fed will continue raising interest rates as it takes these numbers as a sign that the economy is still growing strongly.
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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.
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I think Mr. (Federal Reserve Chairman Alan) Greenspan is partially responsible for the latest decline in the market, because in his last testimony, he said something that was quite important, and I think he gave a wake-up call to the market. He said that they were - they had not made a decision yet about the August interest rates.