Art Cashin: I'll be watching this next week

Cashin says: The weather excuse

Art Cashin said we'll be watching whether Wall Street will continue to use the "weather get out of jail free" card next week to explain away signs of economic weakness.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Mary Thompson around midday, "There is some possible deterioration in the economy here. People are lowering their GDP numbers. Once we start to hear a little Fed speak, I'd like to hear how they feel about that."

He said the winter weather excuse appears to be wearing thin. "They got away with it with (January) non-farm payrolls, they tried to get away with it with retail sales yesterday, but if you drill down you can see that online sales are just as bad as everything else."