The market is going to be held hostage to corporate earnings and there is no real evidence that there is a turnaround. So we'll continue to have what we've been having -- people not really showing any willingness to participate.
More Quotes from Peter Cardillo:
Inflation will stay low. Interest rates will turn lower. Corporate earnings will continue to grow. And I think we can see the Dow by the first quarter of 1999 above 10,000.Peter Cardillo
The Dow tried twice yesterday to get past 10,000 and failed, but I think it's really just a matter of time. We could see that happen by the end of the year.
Peter Cardillo
The selling in financials is an anticipation of lower earnings due to a slower economy. From the point of view of interest rates not going up, it's positive.
Peter Cardillo
As for Friday, the first day of the new quarter and the second half of the year tomorrow's trade will be impacted by the continued reaction to the Fed statement, ... We'll also be looking at the ISM index.
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
Unless some real news comes out that could accelerate impeachment talks, it's probably already been discounted, ... Big deal, we're going to see the president get angry, say a few curse words.
Peter Cardillo
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