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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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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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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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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It looks as though the consumer isn't too worried about losing his job or spending his money.
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The end of the strike in New York City is, obviously, a positive. It was slowing things down in terms of businesses and spending in a very important time of the year.
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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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Accelerating GDP growth certainly bodes well for future economic activity, ... And though the report showed the impact of defense spending, it also showed that corporations are starting to spend more, too.
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.
telephone
I like American Telephone at 45 and 50,
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I think the market is holding up pretty well after the recent rally, ... The economic news was mixed today, and investors are eyeing Ivan and the price of oil.
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I suspect over the next session or two, we could see more selling, as investors await all the economic news due next week,
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The low volume confirms that everyone is sitting on their hands. They don't want to venture until there is clarity on the Iraq situation.