All that and more for this tuesday, december 24th, 2013. Good evening, everyone, on this christmas eve. Im suzy. Tyler is off tonight. So it looks like santa started his rounds a little early today. Stocks edged higher thanks to some encouraging data about manufacturing and housing and well have more on both those topics in just a few minutes. Traders called todays gains the start of a socalled santa claus rally. Thats when stocks rise in the final five trading sessions of the year and on wall street thats a bullish signal for the new year. Today investors and traders spread a little Holiday Cheer to each of the major averages. The dow and the s p posted new alltime highs and the nasdaq had its best close in more than 13 years. The dow rose another 63 points. The nasdaq was up 6. And the s p added 5 points. Over in the bond market, worries about whether the Federal Reserve would taper its stimulus and cause a sharp spike in Interest Rates has been a big headache for bond investors. Jus
Good evening, everyone, on this christmas eve. Im suzy. Tyler is off tonight. So it looks like santa started his rounds a little early today. Stocks edged higher thanks to some encouraging data about manufacturing and housing and well have more on both those topics in just a few minutes. Traders called todays gains the start of a socalled santa claus rally. Thats when stocks rise in the final five trading sessions of the year and on wall street thats a bullish signal for the new year. Today investors and traders spread a little Holiday Cheer to each of the major averages. The dow and the s p posted new alltime highs and the nasdaq had its best close in more than 13 years. The dow rose another 63 points. The nasdaq was up 6. And the s p added 5 points. Over in the bond market, worries about whether the Federal Reserve would taper its stimulus and cause a sharp spike in Interest Rates has been a big headache for bond investors. Just ahead of the feds taper announcement last week, investo
Business confidence there down for the first time in five months. Our roadmap begins with the nasdaq looking to turn around a second consecutive slide in biotechs, deterioration in what some of these momentum stocks we say. Cloud storage firm box planning to raise over 250 million in an ipo and list under the ticker box. Reports that manager knew of the gm ignition problems prior to the launch of the cobalt and withheld some vehicle data. First up the nasdaq hoping to rebound the morning after the selloff which saw the index closing at 5 1 2 week lows and biotechs took a hit and tesla and netflix. We talked about it yesterday, and wonder if this is a longerterm dynamic in terms of leadership. I think that gilead comeback yesterday was significant but a lot of the others didnt. You know, were going to be talking about box filing and i look at that offering and i say or drop box, too, i say, these are the kind of companies that are putting a lot of pressure on the rest of the companies.
And were going to talk about obviously one of the major implications, supply from the middle east of oil and the threat of massive disruptions there. With us today is lord john brown, former ceo of bp. He has a new book out entitled the glass closet. He also will respond to governor perrys comparison of alcoholism and homosexuality. A big hour coming up. The meltup weve been talking about recently has kind of melted away. The Dow Jones Industrial average is off about 15 points on the trading session. The s p 500 is traded up just a fraction. The nasdaq composite is up about a tenth of a percent. As for the transports, last trade was down about 14 points on the trading day, and the russell 2000 has been in negative territory as well. Theres the transports, down about 15 points on the trading session. Russell 200, well show you that in just a sec. Now its turned positive by about 1. 7 on the trading day. Seema mody is in times square, bob is here at the exchange. Bob, were coming off our
Back to your point before we hit the headlines, its been a heck of a month for stocks. 43 s p 500 stocks are up more than 5 . Just in june. And im telling you, if you sold in may and went away, you lost out on just about all the gains for the year. To your point on oil, williams, new field exploration and others, theyre leading some of the gains. Oil has actually led us higher. Thats the down side on those things is oil helps out until it starts to act as a tax on the consumer. And you dont know what the he end of the summer is going to bring. Yeah. One thing i would say, we dont care about oil prices, can he care about gas prices. We had a guy on from bp yesterday who was talking about their global study that they look over lee years. And the good news is oil prices are more stable than theyve been at any point the 1970 witness stand that means theyve closed above 100 for three years straight for the first time ever. Yeah. Crude oil has been higher than where we are right now. Carl ic