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Letter "P" » Peter Cardillo Quotes
«The market is very nervous about calls for sanctions against Iran. The fear is about how Iran might retaliate if there are sanctions. Basically, a lot of speculative money is going into energy now.»
«The last day of the year many years ago used to be the busiest say of the year, but that ended about 15 years ago. This holiday offers a three-day weekend and most institutions have closed their books by now.»
«I suspect the main focus of the day will be the Fed minutes. It looks like we'll get a strong start on the strength in overseas markets, but we'll probably be trading sideways until the minutes are released.»
«The key is obviously inflation. A lot of inflation talk could reverse the thought that the Fed is ready to pause after the January meeting.»
«We're looking at a slightly lower open as we see some consolidation. At the same time I don't expect the market to give up much of what it has gained over the last two days.»
«If oil continues to stay at these levels for a sustained period, it will bite into economic activity and renew inflationary pressure. That could put into question if and when the Fed will end its tightening cycle.»
«Some of the good earnings reports and good guidance are reversing market psychology. In general, we're probably heading for a good earnings season.»
«[Expiring options also spurred selling.] 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.»
«If the CPI core rate shows not much of a rise then the market will be able to just focus on good earnings, ... It will show that the Fed is staying ahead of the inflation curve, which is a positive for the market.»
«I think that if GE or Citigroup say something upbeat, that could help change the mood,»

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