Watch Art Cashin: 'Key factor' in bounce back

Thursday, 13 Feb 2014 | 12:58 PM ET
Cashin says: Weathering the real storm
Thursday, 13 Feb 2014 | 11:40 AM ET
CNBC's Mary Thompson and Art Cashin, of UBS, discuss the market's recent strength and what's behind it. Slight improvement in Europe and a firmer dollar helped, he says. The Comcast-TWC deal could spark other deals, he says.

Art Cashin said a strong U.S. dollar against Japan's yen is a "key" factor in the Dow's bounce from Thursday morning lows in the wake of weak retail sales.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Mary Thompson around midday, "There was some slight improvement in Europe and then it moved into the currency markets and the dollar firmed up. The dollar-yen is kind of a "risk off" trade these days and a slightly weaker yen allows them to play back."

Cashin, however, said today's stock sessions needs an "asterisk" because a snowstorm in New York kept trading desks lightly staffed and distracted those who did come to work.

—By CNBC.com


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