Watch Cashin: 'Perfect excuse' until 'aha' moment
Art Cashin said bad winter weather is serving as a "perfect excuse" for weak economic data, but the stock market may not accept that excuse indefinitely.
Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday, there could be an "aha moment" that discredits the weather "get-out-of-jail-free" card. Cashin says it could be a "piece of bad data that can't be blamed on the weather, something that you can't reduce it down, but for now it provides the perfect excuse and the market's going to look elsewhere."
Cashin is going to concentrate on what Federal Reserve officials are saying this week "to see if there's any hint of doubt or dissension—see if there's any hint of what would be a big enough hurdle for them to begin to taper the taper."