Thats right. It turns out the Federal Reserve is pretty darn worried about faltering Global Growth and its impact on the u. S. When it met last month. It wasnt about to pull the trigger on a higher fed fund rate. And when we found out about how pragmatic the fed was about whether to raise rates or not, the september minutes were released after 2 00 today, you could almost here the collective sigh of relief. And then the rush to buy stocks dow gaining 138 points. S p jumping 0. 88 . Nasdaq is also climbing. For weeks now we have labored under the impression that the fed was ready to tighten on a moments notice because it was sanguine about the economy. We thought they were happy about things. They were hardly sang wing. Thats what they tell us theyre about to tighten and the Federal Reserve is worried as most Business People and investors were about a china led slowdown could bring down what little strength our economy has. Given that last months unemployment number wasnt so hot you can
Rallying and the 10year moving high owner the fact that the fed if anything worried about inflation and growth move, i mean, try to put it altogether and create a coherent narrative. I cant. Maybe the panel can. We have other news but first of all keep an eye on this level. 1962 was yesterdays high on the s p 500 index. Write that down. We took out yesterdays low on the open this morning. If we were to close above yesterdays high, technicians call ate key reversal day and would put a potentially bullish move for the markets. If we get a push higher here in the hour and see what apples doing because carl icahn put out now very sophisticated with the tweets. He is tweeting of what to tweet about. Well, thats true. Thats true. Almost like we have to watch his communication strategy as much as he tweeted out to send an open letter to tim cook, ceo tim cook, tomorrow. With all of the agitation at apple, the stock is up 50 in the time. Hes going to send an open letter to tim cook tomorrow an
Five years. Our road map begins with the selloff in the markets. Renewed concerns about the economy. Just out, abercrombie and fitch ceo stepping down. A controversial figure on cramers wall of shame. Stocks up 8 . Verizon with a warning, a surge in new subscribers, but promotions and price cuts are going to hurt profits. First up, stocks on track to extend losses the day after the s p recorded its worst day since october. Got weakness in the energy sector. Got worries about the fed changing language. On december 16 and 17th. Something you were tweeting about at 4 00 this morning. Right. One of the things you have to accept is when we are doing better than everybody else, its ridiculous for the fed to stick by the considerable time. A lot of time has passed. Considerable time, there is a finite moment. If you keep saying considerable time, you are getting closer to that moment and were there. I dont even think necessarily that is whats causing this. China was just a big reversal. Greec
Fewer jobs, obviously, in that number. Expected an addin in september. Well break down all the numbers for you. Streaming to alltime highs. Netflix shares poised to open at a record high after blowing through Third Quarter expectations but even Ceo Reed Hastings voices a few words of caution about the stock price. Cramer that will run through the stocks that are key to your portfolio. And a new battle in the tablet wars. Meanwhile nokia launching a new tablet and apple releaseding surface two. Terrific. The september job numbers have been repleased, thats below forecast but august job gains were revised higher. Unemployment was low wheel the labor rate Participation Rate did remain unchanged the quarterly average, 103, 207 before that, 2 9 before that. Private sector is putting on the brakes. Interest rate back to 2. 05. Thats really amazing. The big spikes, 2. 8, 2. 9, that turned out to be a became. Interest rates are back to where maybe housing gets reignited. Im not sure. How does
Major comeback over the last four weeks. But heres the thing, guys, its not just those momentum stocks. Largecap tech stocks also moving to the down side. Steve malone vich at ubs has a buy rating on apple, but he did put out a cautious note today, saying apple could face pricing pressures in china. On that note, intel and ibm will be in focus, kicking off tech earnings next week. Thats when investors will get an initial preview of what to expect in the Second Quarter. Bill and kelly . Seema, thank you very much. Lets talk about whats going on today and what it means. Joining our closing bell exchange, winnie sun from Sun Group Wealth partners, rob morgan, mark matsen from matsen money. Anthony chen, maybe one of the most bullish economists on wall street. Hes with chase. And our own Rick Santelli. Anthony, im going to start with you. The tone of the market lately, weve seen very defensive issues moving higher. Utilities are actually up today, while the secondaries, the small cap stock