The markets for the next couple of days will focus on some economic data, until the chief weapons inspector returns.
More Quotes from Peter Cardillo:
Traditionally, the inversion would indicate that we are headed for trouble. I have not come to the conclusion we are headed for a recession, but I am a little worried.Peter Cardillo
The market this morning moved up on the good economic numbers. It was a confirmation of what the market has been saying.
Peter Cardillo
The Chicago number showed manufacturing has been picking up in the Midwest. That bodes well for the national number Monday, all of which supports the idea of a recovery, which is what the market has been betting on.
Peter Cardillo
The breadth of the market is extremely negative. The decline is accelerating. It's feeding on itself. What we're seeing here is a combination of some sell programs and people beginning to have second thoughts.
Peter Cardillo
When you have MA (merger and acquisition) activity continuing, it's a sign of stronger economic activity ahead. The market probably will focus on the economic data I suspect the driving factor of the day could be the ISM index.
Peter Cardillo
People realize we have an employment number, and if it shows accelerating wage pressure, that would rekindle the fear that the Fed may have to raise (interest rates by half a percentage point),
Peter Cardillo
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