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...
earnings good higher impact interest limited market months period rates stocks
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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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.
economy fear feeling pinch rates stocks
Old economy stocks are feeling the pinch in fear that rates are going much higher.
employment fear fed half people percentage raise rates realize shows wage
People realize we have an employment number, and if it shows accelerating wage pressure, that would rekindle the fear that the Fed may have to raise (interest rates by half a percentage point),
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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.
ahead fed four hike hoping market obvious past point quite rallying rate rates reality sets trading
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.
convinced cyclical fed lack market needs raise rates serious stocks summer
In technology, it's just a lack of serious buying. The market needs to be convinced that the Fed will not raise (interest) rates for the remainder of the year. This is all part of the summer doldrums, but we see cyclical stocks doing a little better here.
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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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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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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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The market now is trying to stabilize after having discounted higher inflation and interest rates and what most likely will be murky fourth-quarter outlooks.
breadth market
The breadth of the market is very negative.
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The jury has been out over the last week or so over whether they will indicate that they are going to pause and I think that's what's been holding back the markets.