The s p climbed and the nasdaq jumped up. Lets start with the most sal yent positive that was a negative, the banks. Heres a group thats a largest part of the s p 500, the financials that is not supposed to be going higher. They always seem to have some number, statistics, some government investigation that just hammers the heck out of them, crushes them beyond recognition after they report and we end up resenting that we owned them. Last week i highlighted bank of america as a potential breakout using the word from technician extraordinary tim collins. On twitter i think i caught holy hell for this. I have a whole chapter devoted to them in get rich carefully but ive never seen such a negative response to my decision to highlight it. With all the talk of tapering and the chatter of the Housing Market it was natural to think this would be a year that the banks would keep getting hammered when they announced their earnings. Wrong today bank of america posted a legitimate upside surprise
Were at 1849 on the s p 500 right now. Were ever so slightly back above water and were going to keep an eye on how the rest of the month plays out. Its the worst start to a january since 2001. But we are in the midst of earnings season and the earnings have not been horrible. No. And the beige book today was constructive. Bank of america. And b of as earnings were pretty good. Single digits feels like a long time ago as well. Thats a victory, yes. Also on todays show, 30 people that could change the future of amazon. They are 30 amazon employees in delaware who are voting today on joining a union or not. They would be the first unionized workers of the giant etail etailer and they could change the business model. Get a reaction from the Biggest Union leader in the world today richard trumka. Small group but big story. Big implications. And he doesnt like the dollar but he does like bitcoin. He doesnt much care for janet yellin or ben bernanke or anything having to do with the Federal R
Which sounds totally crazy, but there have been so many wrong reports and but its hard to say anything. This one, the latest that i had read on this, this gentleman, was seeking asylum, they thought, in germany. They didnt think he had linked to terrorist activities. But again, all of these stories are changing quickly. He had the stolen passport and supposedly the second guy with the stolen passports, they bought their tickets one right after the history. Were going to have a gentleman who knows from bbs. Right. Everyone says the 777 is one of the greatest planes ever designed. And they dont thats why they are not willing to write off any foul play. Right. Whether that be pilot error, hijacking, terrorism. Theres 50,000 flights a day in this country, i think. And typically, you know, they dont just disappear out of thin air without a single warning sign. It looks like this plane may have been turning around. They picked up military radar. They cant figure out why it wasnt on the radar
Gaining. 34 , though the nasdaq declined. 04 because of a disappointment from intel and earnings jitters from google and apple. Yet, despite that relatively rosy action, the earnings season was a bust or the earnings are okay but the sales are weak. People over the place are chastising me for regarding the numbers weve seen so far in the last couple of weeks as positive. Like im whistling past the graveyard. See no evil earnings. First, earnings season has barely begun. Its about eight minutes have gone by in the first quarter. These nay sayers are acting as if theyre watching some Football Game where the bears patriots are three touchdowns ahead of the bullish ravens at the twominute warning. Thats way too early to judge. I bridled the notions of these numbers weve seen are somehow weak. I care tremendously about the bottom line, certainly more than most. Since when do sales, the actual top line revenues have to be fantastic right now . When the quarterly reports depict how business i
Is sunday afternoon. We will see you back here next friday at 5 30 p. M. Eastern time on cnbc. Have a great long weekend. Mad moneys up next. Im jim cramer, and welcome to my world. You need to get in the game. Going out of business and hes nuts, theyre nuts they know nothing i always like to say theres a bull market somewhere, and i promise mad money, you cant afford to miss it. Hey, im cramer. Welcome to mad money, welcome to cramerica. Other people want to make friends, i just want to try to save you some money. My job is not just to entertain you but to educate you so call me at 1800743cnbc. We had that sweet combination of good earnings from Companies Like General Electric, Morgan Stanley, schlumberger coupled with benign squibbs out of washington that maybe there wont be a big fight, partisanship, maybe therell be a deal. And that combo produced nice, quiet, bullish action. The dow rallying 54 points, s p gaining. 34 , though the nasdaq declined. 04 because of a disappointment fr