Stocks opened lower on Thursday after the Dow closed above 10,000 on Wednesday for the first time since last October.
Art Cashin, director of floor operations at UBS Financial Services, said the 10,000 number is not that significantand offered his market outlook.
“Yesterday was a good day for bullsand a great day for hat makers,” Cashin told CNBC.
“There was some artificially induced euphoria…It’s only about the 29th time we’ve crossed 10,000 so it’s not that significant—We did it 10 years ago.”