We have less than an hour until the close of trading. Lets go to the breaking news desk where scarlet fu is looking at the action on the street. Scarlet the action was concentrated in the moment morning. There is some drama that has given way to a quiet afternoon. A sharp drop, and a recovery. We reached session highs about 90 minutes ago. We have since been drifting lower. The morning did feature disappointing economic data. An unexpected drop in Consumer Confidence for one, and another month of contraction in the richmond manufacturing. All of this is as the fed began a twoday meeting that concludes tomorrow. Right around the time the data came out, there was report that irans military seized a u. S. Cargo trip. The pentagon denied the report saying the ship fired upon was flying a Marshall Islands flag. Treasuries did fall with yields currently at session highs. You can see right there, the 10year at 1. 89 . The dollar weaker as well as we head into the final hour of trading. Matt t
Im kelly evans at the new york stock exchange. Im bill griffith. Doesnt look like third times going to be a charm. The financials, which had done so well, bank of america yesterday with a stellar report that pushed it higher. Today, Goldman Sachs and citi disappointed with their earnings and the financials are lagging this market and leading it lower. President dow was down 105 points at the low. Now were doing 68. Thats right. We have goldman down about 2 at last check. Citigroup off about 4 . Some of the regional financials its a little bit more mixed. We have pnc up despite analysts saying this maybe isnt necessarily a performance they can repeat. While some of the others are lower, even though commercial real estate, commercial and industrial loans, there is growth there. And then theres retail. Best buy. Worst buy. Horrible day for best buy shareholders, which well get to coming up in a little while here. Yeah, thats right. The Market Action wont stop. When the closing bell rings
It all is about washington right now, the markets are watching every single headline that were getting out of there. How much trouble are the budget and debt talks in at this hour, especially as we approach thursdays deadline . Lets bring in our team, peter barnes is standing by at the white house right now, rich edson on capitol hill, Nicole Petallides on the floor of the feigning, and weve got sandra smith at the cme group. Peter, want to start with you. The white house is trying to, i guess, if you will, gauge whats happening between the senate and the house. Where do we stand . Reporter thats right, cheryl. The president s about to meet with House Democratic leaders here at the white house to talk about next steps in their strategy. This as this surprise legislation to reopen the government, fund the government and raise the debt ceiling was dropped by, into the mix by House Republicans this morning. The white house is attacking this move as potentially risking, putting the United
After the bell is happening right now, everybody. Cheryl lets look at todays market action. Ill tell you we have a lot going on. Lets bring in yudee change. Mark newton on the floor of the new york stock exchange. Alan nubbing man down on the nyse. Were watching volatility david was speaking about. You have at least on the equity side we didnt react there was no positive reaction on the equity side to this news report, that they are reporting that the husband republicans will take a deal to the floor tonight . Well it may be the sell the fact type action. We moved up 4 over last couple days. You have to remember, s p yesterday was only 1 of alltime highs. Nasdaq made new decade highs. You might see people taking chips off the table just in case there are last minute hiccups. People seem more confident. Were down only hal on the day the vix has a little bit of action in it but it is still significantly lower than it was last week. Last week we had a reversal where it made new highs and
P. M. Eastern time. Tenyear yield still a shade below 3 . Germany, italy, switzerland all closed today. London did just wrap up an early close with a 14 gain for the year. Stocks are set to open up high again today. Streaming video getting a little bit cheaper. Will it be a hit . Netflix working on a lower price plan that only lets you watch on one screen at a time. And the surge in home prices continue. Prices in october did jump over 13 yearonyear. Thats the highest gain since february 06. Robert shiller is here to tell us exactly what we need to know. The dow up nearly 26 , s p up 9, the nasdaq 38 this year. The dow is on pace for its best year since 96, s p the best since 97. All the coverage is trying to take stock of what went right . Or is it fewer things going wrong . David kelly in usa today saying it was the downsizing of fear that allowed money to come back in the market. Its interesting when you talk about that downsizing, we have not seen the broader participation of the r