Art Cashin CNBC 10/31/08 - Election Comments

Art Cashing came on CNBC twice today, October 31st, 2008, and gave some comments on the stock market and the up coming election next week.

I think we are in reasonably good shape as far as the stock market goes, we need to get past election though. We didn't get the capitulation like we wanted last week, these capitulations usually last into the last Monday of October, and this time it was the closing low. We might have a possible retest of the lows after the election.

I'm hoping we can get together back to back Dow up days today.
Don't make a heavy commitment to stocks until after the election.

Click Here for a list of Art Cashin predictions for the week.


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Dow Jones Futures 10/31/08 - Stock Market Futures

10/31/08 Pre Market Trading Report:

Today, October 31st, 2008, the Dow Jones Futures and the Stock Market Futures are pointing lower as the Asian Markets failed to stage a 4th rally and headed lower. The Dow Jones Futures are indicating a down move of 100, the Nasdaq Futures are lower by 24, and the S&P 500 Futures are down 9 points. We had a big move up the US markets yesterday after a better then expected GDP number. Our economy only shrank by 0.3% vs estimates of -0.60% or even -1%.

Asian Markets - European Markets - 10/31/08

Tokyo's Nikkei 225 index fell 5% to 8,576.98 over worries about earnings. Investor sold shares after the previous day's 10 percent rise and ahead of a three-day weekend in Japan. They didn't react much to the Bank of Japan's rate cut, which was widely expected.

Hong Kong's Hang Seng dove 2.5 percent to 13,968.67 after spiking 12.8% in Thursday's trading.
European markets opened lower, with Britain's FTSE 100 index down 1.9 percent and Germany's DAX down 1.2 percent.

Stocks to Watch today:

Biggest Gainers in Pre Market Trading

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