365 Quotes by Peter Cardillo
- Author Peter Cardillo
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I think we're likely to remain in a broader trading range for the time being.
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We are already seeing some signs of a slowdown in the economy. If durable goods confirm what housing starts voiced last week, then obviously we might see a little bit better tone in the bond market.
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A hefty rise at the core rate would upset stocks investors.
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You see some individual companies reporting disasters while others are beating street expectations. So that's positive. That shows that the rut in that particular group is probably coming to an end.
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We did get surprising oil inventory data, but it's still below that $60 range. The market is running against options expirations, which are causing technical difficulty.
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I think we're going to see the preliminary GDP show that this economy is flat or even negative. But that's old news. What the market needs to focus on is numbers that show us we are beginning to rebound.
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A good portfolio should be a mixture of sectors -- I don't see any one sector being hot again, ... I would favor more tech and telecom because when they do come back, they'll come back very strong because they got clobbered the most.
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This is positive in the sense that central bankers believe the global economy is strong enough to raise rates to contain inflation.
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I think we're going to see a very choppy market for the next few weeks, as we get closer to the election, unless oil prices move sharply one way or the other.
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