Across the globe there are a lot of problems out there. Putting pressure on the markets is the situation between India and Pakistan , gold is up on that news. Also, weakness in the dollar reflects nervousness in the financial markets.
More Quotes from Peter Cardillo:
The markets are deeply oversold and starving for good news,Peter Cardillo
Yesterday (Monday), the market came down in a big way on terrorism worries, but today (Tuesday), we'll probably see a sluggish market most of the day. There's no big global news to give us a lift.
Peter Cardillo
If we get a strong number (Friday) it could rekindle fears of another Fed tightening and that will keep investors on the defensive.
Peter Cardillo
The deal in Internet helps, but the real reason the market is faring well is because of the end-of-quarter window dressing.
Peter Cardillo
The markets for the next couple of days will focus on some economic data, until the chief weapons inspector returns.
Peter Cardillo
I think that the first two weeks of November will be wishy-washy, as we continue to trade in this range we've been in recently that started with the earnings, but as investors digest the month's economic news, which should be positive, we'll be able to move higher again,
Peter Cardillo
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