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.
More Quotes from Peter Cardillo:
We won't know the full effects of the Asian crisis until at least the second quarter of the new year.Peter Cardillo
The market is very much gripped by earnings' warnings. That's why the market seems to be lacking a clear direction on the upside.
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
The CPI was good news but still leaves that question mark about energy prices. The gasoline hike of the past three weeks was not included in it,
Peter Cardillo
There are so many positive factors that led to today's rally. Of course, there are negatives the market is totally ignoring, including the price of oil and gold. Ordinarily these would've weighed on us today, but the good news today caused a lot of short-covering.
Peter Cardillo
If oil prices continue to rise and there's an escalation of the situation in the Middle East, the question would come up, are we headed for some type of OPEC embargo and where would that send prices, ... It seems like all of the negative news that possibly could be surrounding the oil market is at hand.
Peter Cardillo
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