Art Cashin

Art Cashin On The History Of Friday 13th In The Markets

In his daily note, everyone's favorite veteran floor trader, UBS' Art Cashin, reprises the history of Friday the 13th in the markets, and finds that it is far less scarier than some may believe, and in fact has a mild upward bias as it is up 55% to 60% of the time. There are, however, accidents, and on Friday, October 13, 1989, the attempted LBO of UAL collapsed and the Dow plunged 190 points, equal to 860 points today.

"Less Room To Run" - What Wall Street Is Paying Attention To In Today's Fed Statement

When it comes to today's Fed decision, there is little doubt: a 25 bps rate hike, the first in 2016 and only the second since the financial crisis, is now assured: all 103 Bloomberg-surveyed economists expect a 25bp increase, and the market agrees pricing in a 100% probability of a rate hike. So what does matter? Here is a selection of sellside opinions, summarizing they key things to watch for in today's FOMC statement.

Art Cashin Explains Yesterday's Furious Rally

"Just before the buy programs kicked in, the rally in the Dow Transports was shifting up a gear as the index was on the verge of punching through to a new record high. If the Transports made a new record high, it would confirm the record high in the Industrials, thus giving a Dow Theory buy signal. As that realization spread, the algorithms kicked in with buy program after buy program and the race was on."

Art Cashin Sums It All Up

"The market is more powerful than the Fed. That's the problem." - In other words... Let the market clear!!

What If There Is No "Fed Put" - Paul Brodsky Thinks Yellen Will Not Bailout Markets This Time

Earlier today, Art Cashin summarized most (very desperate) traders' thoughts when he said that as a result of today's market crash, "the Fed will try anything" to prop up the wealth effect it had so carefully engineered with seven years of central planning in the aftermath of the financial crisis.  Yet one person who is far less sanguine abou the latest in a long series of central bank bailouts of the stock market is Macro-Allocation's Paul Brodsky, who believes that instead of the Fed Put, the time of the Fed Call has come.