The market is poised for a sixth day of positive returns and Art Cashin, director of floor operations at UBS Financial Services, believes the rise will continue.
"It feels like the market will keep going. But we do hope to see some better volume. Things have calmed down somewhat and looking better," Cashin told CNBC Tuesday. "The earnings out of CSXand the fact thatGreece got its bond sale off okay helps."
"The earnings season appears to have gotten off to a good start," Cashin went on to say.
But Cashin did say that the government's employment report on Thursday could have a dampening effect on investors.
"The jobs siutaiton still looks sick," said Cashin. "The small business reportthat came out today shows that they are pessimistic and not hiring and they're the engine for jobs in this country and that's why the economy is stuck in a rut."
Scorecard: What He Said:
- Watch Cashin's Appearance on CNBC (July 12, 2010)
Different Market Views:
Crucial Test Is IPOs, Not Earnings
CNBC Data Pages:
- Dow 30 Stocks—In Real Time
- Oil, Gold, Natural Gas Prices Now
- Where's the US Dollar Today?
- Track Treasury Prices Here
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Disclosures:
Disclosure information was not available for Cashin.