CNBC Stock Blog
- How Stock Investors Can Play Holiday Travel
- 3 Growth Opportunities in Tech: Analyst
- Prep Your Portfolio for Next Week: Stock Pickers
- Global Growth Good for Portfolio: Stock Picker
- Expect Tech Sector to Rise in Q4: Strategist
- Expect a 5-10% Market Pullback: Stock Picker
- 3 Stock Picks for This Volatile Environment: Portfolio Manager
- 3 Financial Stocks May Lead Final Rally: Market Researcher
- Gold's 'Money' Value is $4,000 to $11,000: Market Strategist
- Commercial Real Estate Bottom Near: Market Pro
MOST SHARED
- Nielsen Ratings Coming to Video Games
- Oil Next Week
- The Week Ahead
- Time Lapse World Series Is A Great Play
- Hershey Mulls $17 Billion Bid for Cadbury: Source
- Hot Topics at TEDMED
- Realty Check: USDA Home Loans
- Bove: Expect Goldman To Increase Dividend Meaningfully
- 'New Moon' Midnight Showings Earn Record $26.3 Million
- How Stock Investors Can Play Holiday Travel
- Time Lapse World Series Is A Great Play
- Hirschhorn: Greed...or Fear
- My Top 10 Tech Toys for the Holidays
- iPhone a Better Gaming Platform Than Android?
- May Day For Dendreon
- 100% Mortgage Financing From USDA
- Holiday Tipping: Who And How Much
- Deep Discounts Should Make It a Very Tech-y Holiday
- Credit Markets on Edge About When Fed Will Raise Rates
- Bove: Expect Goldman To Increase Dividend Meaningfully
- Bullish Sign for Gold: Central Banks Are Big Buyers
- Victoria's Secret Hopes to Rekindle Desire for Lingerie
- High Roller Sues Harrah's for Lost Millions
- Wall Street Jobs Slow to Return Despite Record Profits
- Big Shareholders Ask Goldman to Cut Bonuses: Report
- Buying an Expensive House? Government Can Help
- Review: What It's Like to Drive the New Chevy Volt
RSS FEED
Text Size 
Bank of America, Citigroup and General Electric* quarterly earnings and revenues are a combo platter of gains and "less worse" estimate beats. What does it mean for the stock market?
Art Cashin, director of floor operations for UBS Financial Services, offered CNBC his insights.
Cashin said much of the interest on the trading floor moved "away from the financials" Friday.
'Most of the [earnings] reports have shown better income by cutting costs. That's a short-term solution. That's not a method of growth. There's still a little suspicion."
Investment Advice:
- GE Falls, But Should You Buy?
- IBM & Google: Analyst Recommendations
- All Big Banks Will Do 'Quite Well': Stock Pickers
He addressed his previous declaration that today would give concrete evidence of the markets' direction going forward, saying that the playing field had altered suddenly this week.
"I'm going to have to extend to next Friday (July 24). We've got things cooking on the 21st and 22nd that I want to take a look at."
Cashin didn't specify what events he's awaiting, but joked, "Not the least is a major solar eclipse. We'll have to see if that changes the ionization in the upper atmosphere."
For Cashin's take on Institutional vs Individual Buying, watch the full interview.
______________________________
______________________________
CNBC's Companies in the News:
Bank of America [BAC
Loading...
()
]
Citigroup [C
Loading...
()
]
General Electric* [GE
Loading...
()
]
CIT Group [CIT
Loading...
()
]
BB&T [BBT
Loading...
()
]
----------
* General Electric is the parent company of CNBC.
______________________________
Disclosures:
Disclosure information was not available for Cashin or his company.
Data is a real-time snapshot *Data is delayed at least 15 minutes