The deal is positive for the market as it helps clear the air. Obviously, restrictions are going to be tighter in the future.
More Quotes from Peter Cardillo:
Oil is trading higher today due to the new hurricane fears. The big story of the week, which will be the market mover, is going to be the Fed.Peter Cardillo
We had a very explosive rally yesterday, and gas prices are moving a little higher this morning.
Peter Cardillo
Here is a classical story of a stock that is trading under book value. ATT, the same thing. I believe it is up 4 or 5 points from its low and basically trying to stabilize at these levels, when it is all said and done, it still probably will be the leader of the pack. Again, a company selling under book value,
Peter Cardillo
They (G7 countries) may whistle a different tune in terms of assisting different markets, but behind the scenes they're looking at the situation.
Peter Cardillo
It is good news since we did not get any surprises on the upside, but by the same token, the Fed already made its decision, not changing its bias or interest rates.
Peter Cardillo
That's what is putting a cap on the good news in the market.
Peter Cardillo
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