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 fact that oil fell out of bed is certainly propelling the market today,
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We did get surprising oil inventory data, but it's still below that $60 range. The market is running against options expirations, which are causing technical difficulty.
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What we're going through is a market finding itself in a very nervous state and is preparing itself for third-quarter earnings, ... As we wait for the earnings to come out, the market feels the weight of the continued carnage in 'new economy' stocks. Dell's announcement was certainly no help in reversing market psychology.
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We're looking at a slightly lower open as we see some consolidation. At the same time I don't expect the market to give up much of what it has gained over the last two days.
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We're seeing a cautious market because of the Fed meeting. There are a lot of events the markets need to sort through, and the most important one is Mr. Greenspan.
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Until we get the full force of earnings and economic data later in the week, I kind of expect us to remain at the lower end of the trading range,
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We're in uncharted times here, both for the economy and for the stock market. Some of the old rules just don't apply to global economics and to the global mechanism of how things are working.
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The perception is turning toward the fact that the economy is slowing and we can still continue to grow even if the economy grows at 5 percent.
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There are some good stories out there, and I think people are looking at them. You have the tech stocks doing better than the other, with chips up because of TI. There are also a few specific issues that continue to hold the Dow back again, as was the case yesterday.
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The CPI was good news but still leaves that question mark about energy prices. The gasoline hike of the past three weeks was not included in it.
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People feel there are bargains out there. I think the market can continue to rally a little more.
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Normally, with gold surging and the dollar down, you'd see that hurting stocks, but the market is ignoring that today, which is somewhat positive.
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From a 'wall of worries' standpoint, the market needs to be assured that there are no other casualties out there that are going to report weaker earnings, and from an energy standpoint, prices have got to move lower.
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I think the market here is in a very nervous state. You have geopolitical problems surrounding the Iranian situation heating up, and you have concerns about productivity, and that's keeping investors very cautious.