higher wages means a potentially an overheated economy and it can mean rising interest rates. so if you look at what s been happening in the treasury market on my very last chart, you ll see that long-term treasuries, ten-year treasuries, which is a benchmark index after having sat at around 2.4% for a long time had been spiking upward. like that. and they got as high at about 2.85% the day before yesterday. higher interest rates are the enemy of the market because it gives people another place to put their money and earn a high return. well, and nobody likes, obviously, higher interest rates, but, again, money has been basically free for the past 15, 16 years. interest rates have been historically low. and so rising interest rates have to be coming at some point. the market will go down. but that actually gives the fed more options down the road, doesn t it? well, eventually if we have another crisis. in the short run, what the market is expecting is that the fed will increase i
of $149 million. the california winner, assuming it s just one, $149 million. meanwhile, 180 people are waking up millionaires. practical advice. first, hire a tax attorney before you do anything. make the big splurge. get it out of your system, repeat after me, grow the money, don t spend it all. put in in a 30-year treasury bond with interest of 2.85%-just the interest on that money is $4.2 million a year. cow live on $4.2 million. and then you might want to change your cell phone number. no, you have to change the cell phone number. grow the money? grow the money. all of those people who are broke five or ten years later, the real important advice is put it away. spend a little something but put it away. stories are fascinating about how many people s lives are ruined by lottery. yes. we should all take comfort in that either. that s not the rule.
the s&p and nasdaq added 1%. that puts the dow and s&p back in positive territory for the year. if you are not keeping track, stocks are close to highs. dow is about 2% away from the record. the nasdaq and s&p are not far behind that. we are watching oil prices. oil continuing to fall. plunging yesterday to the lowest level in six years. the price of crude dropping to $42.85 a barrel. that is the lowest since march of 2009. experts think the price of oil could drop lower than $40 a barrel. i love it. love the lower gas prices. double dip in oil prices. producers are concerned. it is scary for the industry. production pulled back. thanks. the men accused of shooting two police officers in ferguson
mayor bill de blasio says he will not be on hand for a second year in a row because changes were not made to let more gay groups participate. time for cnn money now, business correspondent alison kosik is in our money center. what s happening with oil? we continue to see oil prices plunging. crude oil prices falling to the lowest level in six years, hitting $42.85 a barrel. the lowest since march of 2009. a month ago we were hearing of oil s comeback. now experts think the price could drop even lower than $40 a barrel. it s not getting cheaper to rent. in the past five years, rents have gone up 15% and they re outpacing income in most of the major cities in the u.s. according to a report from the national association of realtors. new york seattle and san jose california those were some of the places topping the list with the highest rent increases. apple apple is in talks with
its record. the nasdaq and s&p 500 are not far behind that. we re keeping our eye on oil prices. oil continuing to fall. the price of crude dropping to $42.85 a barrel. a month ago. we were hearing of oil comeback. now the price could drop lower than $40 a barrel. you are seeing a lot of nervousness in the oil pits with investors saying we are not seeing a bottom yet. you told me this was happening yesterday. a big deal. thanks. the man accused of shooting two police officers in ferguson, missouri in court. his lawyer offers a different explanation than what we heard. that is after the break.