Weak durable goods numbers versus stronger home sales: which indicator should investors believe?
Art Cashin, director of floor operations at UBS Financial Services, offered CNBC his market insights.
"We're getting kind of mixed signals," Cashin conceded.
But he cautions that even the positives should be taken with a grain of salt:
"There was all the hoopla over housing sales. But when you measure them against foreclosures, they're actually at a risk of slipping."
More CNBC Market Intelligence:
Cashin touched on Tuesday's disappointing auction of 2-year Treasury notes — and mused on hidden geopolitical agendas, in light of grumbling at the U.S.-China summit.
"At the risk of sounding like Machiavelli: Could China have pulled some of their bid, as a shot across [America's] bow?"
He believes the U.S. dollar is the "critical" factor to watch this week:
"If the dollar makes a pronounced move up, we may see weakness" in stocks, oil and other commodities, he warned.
Cashin said there's a possible inflection point ahead. When? And what's the cut-off date? Watch the full interview to find out.
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Disclosures:
Disclosure information was not available for Cashin or his company.