Not everybody is getting the check at the same time, but of course it's a positive for the economy. However, it's already in the marketplace and we'd have to see it show up in the (economic) numbers or nationwide polls.
More Quotes from Peter Cardillo:
What's shaking the market is oil and the aftermath of the hurricane, ... Every time the price of oil moves into new, higher territory that creates worries about the strength of the economy going forward.Peter Cardillo
The ups and downs today were part of the process of consolidation. We're finally stabilizing today and it looks like the worst is over.
Peter Cardillo
Today's rally set a different tone to the market because it's not suggesting another false start. That's because there was an improvement in the quality of buying. Money is moving into stocks from bonds. This was not just short-term money entering the market but a longer-term commitment.
Peter Cardillo
The market is beginning to focus on the rising price of oil. That, in my opinion, has rekindled doubt about what the Fed is going to do.
Peter Cardillo
Long-term investors should stay the course, ... No one should be diving into this market with the notion that they'll make fast money because that's not the case.
Peter Cardillo
The market is once again staying within the broader trading range, ... and in this case rotating out of commodity and related issues and buying tech and others that are perceived as being better values right now.
Peter Cardillo
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