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Watch Art Cashin: 'Tiny taper' hopes boost stocks

Cashin: Expect 'tiny taper' of about $10 billion a month

Art Cashin says stocks are getting help today from expectations the Federal Reserve will start tapering its purchases of assets by a small reduction of around $10 billion.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani that "people, after sorting through (Friday's) jobs data, decided it probably won't have the Fed postpone. They may announce, or start, in September, but they will be down to a tiny taper."

He also notes that concerns about a U.S. military strike on Syria are on the "back burner" for now, although that may change Tuesday ahead of President Obama's scheduled address to the nation.