Art Cashin

facebook_page
twitter_page

Last quote by Art Cashin

I think they're worried this is going to be a longer-standing event. They think there's very small chance now of tax reform.feedback
share this quote
May 17 2017 Republican Party
Art Cashin has been quoted 87 times. The one recent article where Art Cashin has been quoted is Trump crises finally hit stocks as concerns mount over GOP defections. Most recently, Art Cashin was quoted as having said, “But if he begins to suffer any sizable defections among the Republicans, that's a problem. Back in the Watergate days, it was [then-Sen.] Howard Baker that stepped across the line and that's when Nixon knew he was in trouble.”.
Automatically powered by Storyzy
Take our quote verification challenge and find out !

Art Cashin quotes

It's a mild warning signal, to tell you the truth. I would be a little cautious. It was kind of a new and demonstrably different reaction because if you recall going after the speech and into the big rally on Wednesday, the feeling was, Gee, maybe this administration is going to be able to get some things done.feedback

[There's] going to be a lot of heavy duty play down there in Washington around this. It will take a good deal of attention.feedback

Initially, futures looked like they were going to sell off and then they shot around and spiked higher, suggesting that the hesitation was tied to the lack of policy details in Trump's wide-ranging address. That left a feeling in some of the guys who were trading that some of the initial buying may have come out of Europe, and that they were perfectly willing, since the speech was much more presidential and somewhat conciliatory, to buy into that.feedback

That's an interesting way to look at it, that if he didn't give you detail, that nobody can stand up and rail against it. And so the absence of opposition may encourage some people. It's a bit of a stretch, but I can understand it.feedback

To get a positive reaction, you need the president to say just the right things, to give enough detail, hope and timing that the market picks up on it. Then you need Congress, both the Democrats and Republicans, to sound like they might be able to work along with it and get it passed. Now, if either of those don't happen, that would raise the possibility of a logical, negative reaction from the market.feedback

Republicans in Congress have been complaining about Obamacare for seven years. Now all of a sudden they are in control and don't have a plan. For all the people saying this rally isn't about Trump, it really is very much about him and hope for what he can deliver. And if over the next several weeks we don't get details, or there is a backlash against the tax plan, then the market will show significant disappointment.feedback

Well, we're significantly overbought now. I mean, I think we're really vulnerable in the sense that things like the advanced decline indicator is not keeping up with the rate of the rally. We're above, 8 percent above the 200-day moving average, getting very close to 10 percent above in the S&P. That's usually a warning signal.feedback

It's not a very broad rally as it had been a couple weeks ago. So when it begins to narrow, you do worry about that. The volume was nothing to write home to mother about. So you look at those things and say, How much of this is an illusion and how much of it's real? If they punch through there, they could possibly get a tailwind and ... kind of another minor breakout.feedback

I don't think they're are going to be able to do three at all. If they're really lucky and adept, they might be able to do two.feedback

That thousand point move from 19,000 to 20,000 was accomplished in 42 days. And, that's very fast. That's the second fastest thousand point move in the history of the Dow. Most of the traders here think you may get a little bit of a pause or a slowdown. That's happened before. They think we may see a bit of a pullback in February, . That's rather consistent with a first time president, and the pattern that follows him. I think then you can get another leg to the upside that may be multi-month and then you will have a longer correction after that.feedback

Will there be a test from North Korea? Will there a be a test from Russia? You can't get too, too comfortable.feedback

The fact you've got the new highs puts the ball back into the bulls' court.feedback

We're starting to hear acrimonious back and forth about China [from Trump]. … It's unlikely [Xi will] want to fire a shot across the bow but maybe for domestic consumption he might want to do that. I think you want to make a note of that. It's a dark horse you want to watch.feedback

It will start a conversations around the kitchen table about, Should we be expanding our 401(k)? How come we're not participating enough?' So it can bring other people in but it depends on how it is played up in the press and elsewhere.feedback

If for example it looks like we're not going to get tax relief, corporate or personal, until the end of the year or maybe later, that's going to disappoint some people. It will change some plans. So right now politics remains front and center.feedback

It was mostly oil, but some of it was the Ford Motor Co acquiescing, and that had people worried about global trade. The transports went negative as soon as that came out. But then you got bailed out at the end because there was big market on close buyers.feedback

It's going to be all about what's going on with Trump. Does this turn into a real fight with McCain and others going after Trump? The Fed minutes will be somewhat important but they're changing the voters. The jobs number almost doesn't count unless there's a major surprise. The Fed is as curious as anybody as to what's in Trump's program and how fast does he move on it.feedback

They want to see what the new administration is going to propose, how likely are they to get it done early. So I think we'll have some ups and downs.feedback

We're going to be seeing hearings on some of the nominees even before the inauguration, so if you're thinking of January pivot points, there are a couple right out there that could change things around.feedback

I wouldn't make it any more than a 50/50 chance. It's tough to say. Next week is seasonally for the better. I think you pulled some of the seasonality ahead with this strong postelection rally.feedback

I think what you're really seeing here is that Trump was, to some degree an unknown quantity. What would he do, shoot from the hip?feedback

He has high expectations and he wants it done and I think the market believes that too.feedback

But the people that he's putting in or nominating for these roles are highly professional. You may not agree with what their status is, but each one is very, very capable, and that has reassured the market in many ways.feedback

To some degree, the Trump administration may be a slight variation of 'you're fired,' because these guys are coming in and if they don't do the job, I don't think it will take him long to pull the trigger and move somebody out.feedback

I'm of the mind that I think the post-election rally will modify somewhat, but I don't think the correction we'll see go straight down because of all those people who want to buy the dip. You know, the market got away from me, but if I could only get a small selloff, I'll get myself back in.feedback

I think it's good because this is the sign as we call them, buy the dippers. The people who said, My goodness, the rally started without me. I can't get in. I need a pullback.' And this was their first sign of a pullback.feedback

Recall that it was the emerging markets that dragged us down after last December's hike. That will be a danger.feedback

Even though he might have talked up interest rates before, [it's] in his best interests keeping rates down and limiting imports. [Then] maybe we bring back those jobs he talked about.feedback

It would hint that the pre-election signs of hostility with the Fed may be a bit more sincere than some people thought.feedback

That's just Trump being Trump. He's thinking about the plane he has now that's nice and more comfortable, and he forgets some of the cost is anti-missile technology.feedback

If the [jobs] number is stronger than expected, people may feel, here comes Trump with some stimulus at just the time when the labor market has tightened up, and that is going to say a lot about inflation. That's why higher rates are the fear.feedback

We'll have to see what the Russians actually do about it. We have a history over the last two years of these phenomenal short squeezes in the pits and they tend to over-tread very heavily.feedback

I think you want to see if they really deliver. Mr. [Igor] Sechin in Russia has right up until this week said he didn't think he was going to be cutting back. And now – while he's not the oil minister – he runs on one of the largest oil companies that they have there, and he is reputed to be the best friend forever of Mr. [Vladimir] Putin. So, we'll see.feedback

When nobody can see what's going on, the cheating begins almost immediately.feedback

You have this Trump honeymoon for a month, a month and a half – as long as he doesn't make some crazy cabinet appointment.feedback

Quite often when stocks re-rally into something or commodities re-rally into something like that, you do get a pullback. So, I'll be watching crude here.feedback

Ll be watching what crude does.feedback

It's a little too early to say, but there's an outside chance that it might be our old friends the bond vigilantes who are back, saying, OK, you're going to do tax cuts and you're going to do stimulus spending, what is that going to do to the deficit and where are we going to go from there?feedback

Incoming presidents haven't been critical of past Fed chairman. This is a little bit different here.feedback

What's going to be essential here is how quickly he begins to send out signals. Who does he pick for his Cabinet? What does he want to discuss about the repatriation of the money that's offshore?feedback

That may be the beginning of maybe a little test he is going to give the new president-elect.feedback

I'd like someone that not only give me some relaxation, but [has] enough credibility that foreign powers would say, That's a pretty good choice.feedback

While we're concerned about what he might do, they're terrified.feedback

I think the Fed is a minuscule part of it. You can see that yields came in a little bit. I think it's mostly Trump. It's a serious re-pricing.feedback

If you think about paranoia, it may be that people want to get it in, get it on the docket, hopefully get it done or close to done before a new administration comes in.feedback

There's a lot of chatter on the floor and in the Wall Street watering holes that you may see several more leaks.feedback

If interest rates are going to start to tick up here, money is virtually for free. Now is the time to do a deal if you can.feedback

The weekend talk shows will be important. The big questions will be how can they complete an investigation in just nine days. IT certainly means that probably before the inauguration if the republicans hold the house, there will be an investigation that lasts four years.feedback

They think that the Republicans will hold at least the House and that will make for somewhat continued gridlock. So neither side will get a chance to implement any sweeping policy changes.feedback

I think they're assuming that you're going to get a Clinton victory, and yet gridlock. And thereby nobody does much of anything.feedback

That is a big opportunity for a potential gaffe, because you're supposed to be a little light-handed, poking fun at your opponent, at yourself. Somebody goes a little too far ... that may make headlines tomorrow.feedback

They're afraid this already wacky campaign could turn into the Wild West. Trump tweeted out that he feels unshackled. You're hearing the word 'landslide' and a lot more comments about a 'Pelosi House of Representatives.' They don't want either party to control everything. Gridlock is good for Wall Street.feedback

That's taken all the oomph out of the market. The dollar is weak but the interest rates snuck up a little bit but the market is ignoring it. It was 110 percent about oil today.feedback

These guys baffle me. They're supposed to be data dependent and the data isn't all that good, so they're changing their mind again.feedback

While it was fractional given the number of people in the workforce, that wipes out far more than the [151,000] jobs that were added as far as productivity is concerned. That's equivalent to at least a drop of 200,000 jobs.feedback

It's very rare to make new highs in August to begin with, and when you've done that in an election year, whoever won took 30 or more states, so that will lead to the idea that however this comes out, it might be a landslide.feedback

It's a repeated fact. We've done it again and again and again, but we'll have to wait until that kind of slows down.feedback

We churned through that band for virtually the whole day. By informal trader folklore, that band is still there, but you notch it up a little bit, so it becomes 2,192 to 2,195. We'll see if any rally takes us up there.feedback

There is some risk that we're approaching stall speed here, that they did it in such an incremental fashion that it really hasn't swept up everybody's attention.feedback

If you had told people that months ago, no one would have believed it. Of all the central banks with a bazooka, the Bank of England certainly had one.feedback

I think the GDP raised the impact value of every new piece of data.feedback

I think the primary move is oil. Oil started going down in mid-morning, and that started putting pressure on things.feedback

Our mutual friend Rick Santelli pointed out that … negative interest rates only used to come up in Switzerland, when they were trying to get people not to give them their money because they were having a problem. Now they are all over the place, and they are disruptive.feedback

Markets are able to shrug off European 'tough talk' because nothing happens till (the British) pull the trigger and start the process. It is clear that they are in no hurry whatsoever, thus, Brexit is in suspended animation and thus not a market factor.feedback

The dollar continues under some real pressure. The Bank of Japan cannot be happy with that. They got negative trade data today. Exports were down for the fifth month in a row. We may be looking at temptations of currency wars breaking out.feedback

Market on-close orders are indicating there's $1.5 billion of sales right now. That's what pulled out the bid from under (stocks).feedback

No quotes...
More Art Cashin quotes
|< <
> >|

Quotes by Art Cashin

<
>
facebook_page
twitter_page
This webpage has been created by a robot: errors and absent quotes cannot be totally avoided
 
Feedback×

Quote :

Mistake :

Comments :