Core rate came in better than market expected, showing that inflation remains tame, ... Good news and the market should react positively, but the Fed will continue to raise rates. A good report.
More Quotes from Peter Cardillo:
They recently got on to the Internet side of things, ... And as a result of that, I think we're going to see some pretty big names joining in with them and I think the stock is real cheap here. I'm looking for about 15 to 20 by year's end.Peter Cardillo
The economic news today wasn't good -- obviously it leads to worries of inflation. But that should have been expected, with oil and metals trading higher. It has to translate into inflation. The market continues to drift in a sea of uncertainty -- the geopolitical issues are still the main concern.
Peter Cardillo
I think the market is now looking at earnings, ... I think we'll probably see earnings come in pretty good, but I think the market is also anticipating that corporate America will voice concerns about high energy costs.
Peter Cardillo
For the market generally, a lot will depend on the guidance going forward, ... If it's mostly positive, that's one less thing for the market to worry about as it goes through the process of assessing what oil will mean for the economy.
Peter Cardillo
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.
Peter Cardillo
I expect they will stay the line, although the possibility of going from a neutral to a tightening bias has increased.
Peter Cardillo
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