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Art Cashin: Class Warfare a Threat to US Recovery

Thursday, 24 Dec 2009 | 11:36 AM ET

U.S. stock markets opened higher on Christmas Eve, as reports showed that durable goods orders rose and jobless claims fell.

NYSE Trader's Edge
A countdown to the opening bell, with Art Cashin, UBS Financial Services.

Art Cashin, director of floor operations at UBS Financial Services, offered CNBC his insights on this shortened trading day.

Market signals going forward are mixed and even contradictory, Cashin said.

"Jobless claims were actually even better than some down here [on Wall Street] thought," Cashin said. But he cautioned that political conflict such as the ongoing health-care debate is constituting a form of class warfare — which could hinder America's return to economic health.

"It's bubbling up again, all this 'Wall Street versis Main Street' stuff...If we could get back to work again instead of pointing fingers, things in this country would go a lot better."

What Cashin Said - His Last CNBC Appearance:

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Other Market Views:

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CNBC Slideshow:

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CNBC Data Pages:

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CNBC's Companies in the News:

Fannie Mae

Freddie Mac

Wal-Mart Stores

Novartis

Goldman Sachs

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Disclosures:

Disclosure information was not available for Cashin or his company.

Disclaimer

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