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.
More Quotes from Peter Cardillo:
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.Peter Cardillo
We've had a good week, and now we're seeing some profit taking, as the market positions itself for next week's economic news, and of course, the earnings,
Peter Cardillo
Dell Computer ( DELL Research , Estimates ) is battered down here, revenue growth put into question as the whole technology group has been put into question but I think, you know, going forward that Dell will be a winner here and I think it should be bought at these levels.
Peter Cardillo
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.
Peter Cardillo
The recent rally is being supported today by the strong economic numbers, which indicate that the economy is growing at a faster clip,
Peter Cardillo
But really, it's all about the Fed next week, ... The market will be treading water ahead of that.
Peter Cardillo
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