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Art Cashin: 800 S&P Level is Next 'Critical Test'

CNBC.com
Monday, 20 Apr 2009 | 10:34 AM ET

Art Cashin, floor manager for UBS Financial Services, offered CNBC his take on what traders expect Monday.

The Word on the Street
A check on the big board as investors digest earnings season, with John Lynch, Evergreen Investments and Art Cashin, UBS Financial Services.

Cashin weighed in the Oracle deal with Sun Microsystems (which had rejected IBM's offer as too low:

"I wouldn't call this a great deal of M&A activity — they [business leaders] still can't find the jar where the pencils are."

But the green-shoot signs of mergers and acquisitions are here, Cashin added:

"I think it's just beginning. The smart CEOs are going to do that. We're looking at Microsoft and others who are sitting on big piles of cash."

For more Cashin insights on the S&P, watch the video above.

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