Watch Art Cashin: Here's why stocks aren't down

Friday, 25 Oct 2013 | 12:37 PM ET
Cashin says: Tiptoeing into plus territory
Friday, 25 Oct 2013 | 11:40 AM ET
CNBC's Bob Pisani and Art Cashin, of UBS, discuss earnings and concerns about credit tightening in China. He also comments on the Twitter IPO, and what it would mean to the tech sector.

Art Cashin says you have to give the U.S. stock market "some credit."

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday that you might expect to see weakness in New York after Japanese stocks got "clocked" and China's market fell for the fourth session in a row.

Tech stocks, with lots of help from Amazon's big gain, are providing strength. "I think everybody would be happy to tiptoe into the weekend in plus territory."

Over the weekend, the NYSE will do a test run for Twitter's upcoming IPO, hoping to avoid the troubles Facebook's debut had at the Nasdaq.

Cashin points out that the NYSE's process includes "human interaction" and humans are more likely than machines to hold off the start of trading until things are working smoothly.

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