There's been a technical erosion and it continues to feed off of itself. The confidence number brought in some buying and cut some earlier losses, but the markets are basically still lower for all the same reasons they've been lower of late -- the poor earnings outlook, the prospect of war in Iraq, corporate mistrust.
More Quotes from Peter Cardillo:
Concerns remain that the economic data indicate the economy could slip back into a recession. Looking at technology, the fears are back in the market that third-quarter earnings may not live up to expectations.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
In the past five to six weeks, blue chips got battered somewhat. As we approach the end of the quarter, now that they've come down in price, institutions are focusing on them again.
Peter Cardillo
The first batch of economic numbers for the day matched expectations. Core inflation isn't yet a real problem. After yesterday's over-exaggerated decline, these numbers still show economic growth and may help give us a rebound.
Peter Cardillo
I think what we are experiencing here is a classic stampede of bulls in a long-term bull market,
Peter Cardillo
Now you have the Bank of Japan, the European Central Bank and the Federal Reserve all with the same interest-rate policy, and that's very positive. It's a strong indication that global central bankers will contain inflation and not necessarily choke off economic activity, which has been a big concern here.
Peter Cardillo
Readers Who Like This Quotation Also Like:
Based on Topics: Confidence Quotes, Corporation Quotes, War & Peace QuotesIt is even more damaging for a minister to say foolish things than to do them.
Cardinal De Retz
The only one who is alive today and still being talked about is Pierre Cardin.
Pierre Cardin
I've always had great respect for Paddington because he is amusingly English and eccentric. He is a great British institution and my generation grew up with the books and then Michael Horden's animations.
Stephen Fry