Watch Art Cashin: Three things holding back stocks
Art Cashin says there are three factors holding back stocks today.
Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday that the market is waiting to see what the Federal Reserve says after its policy making meeting this week.
In addition, Cashin notes that it is the last Monday in October and it has a "lousy background." There have been several "brutal" last Mondays in October including the 1929 stock market crash.
And, "if you need one more thing," there's a big solar storm underway. Cashin says the solar flares can disrupt satellite transmissions although so far "the satellites are all still going."
Says Cashin, "If you're looking for a broad look at the market, we offer everything here."