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Watch Art Cashin: Why stocks are up despite shutdown

Tuesday, 1 Oct 2013 | 1:13 PM ET
Cashin: 'Armistice rally' push stocks higher
Tuesday, 1 Oct 2013 | 11:40 AM ET
CNBC's Bob Pisani and Art Cashin, of UBS, discuss what's causing markets to move higher, after last night's government shutdown.

Art Cashin says Wall Street is experiencing what he calls an "armistice rally" even as the U.S. government is partially shut down.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday that so far we're not seeing "open warfare" in Washington.

"For now, the fact that people aren't pointing and yelling and blaming each other .. that's why they (the stock market) opened cautious and then rallied after that, with a big help from Europe."

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