Years gaining 12 on hopes of a possible Production Cut that we told you about last night. The Banking Sector also pitched in having its best day since 2011. Helped out by a big buyback that well tell you about in just a few moments. Some strong Economic Data helped out as well. Add it up and a recipe for a rally. The dow was up 2 to close at 15,973. Nasdaq rose 70. The benchmark s p 500 added 35. Thats also about 2 . For the week it was a different story. The dow was the big loser down nearly 1. 5 . The nasdaq and s p both off more than. 5 . Bob pesani has more on todays rally. Reporter the market cannot decide how it feels. All week we were in the usual quasipanic mode that characterized the entire year. Oil down, bond yields were down, gold up, yen strengthening, Global Stock Markets down. Then everything changed at 2 30 p. M. Eastern time yesterday. Oil trading at 26, a 12year low, turned around on remarks of the uae opec minister that opec may agree on some kind of production costs
Years gaining 12 on hopes of a possible Production Cut that we told you about last night. The Banking Sector also pitched in having its best day since 2011. Helped out by a big buyback that well tell you about in just a few moments. Some strong Economic Data helped out as well. Add it up and a recipe for a rally. The dow was up 2 to close at 15,973. Nasdaq rose 70. The benchmark s p 500 added 35. Thats also about 2 . For the week it was a different story. The dow was the big loser down nearly 1. 5 . The nasdaq and s p both off more than. 5 . Bob pesani has more on todays rally. Reporter the market cannot decide how it feels. All week we were in the usualal quasipanic mode that characterized the entire year. Oil down, bond yields were down, gold up, yen strengthening, Global Stock Markets down. Then everything changed at 2 30 p. M. Eastern time yesterday. Oil trading at 26, a 12year low, turned around on remarks of the uae opec minister that opec may agree on some kind of production cos
It was really funny. I think Zach Galifianakis to a little funnier than the president. Of the first time and said, theyre so funny. I watched it again, and zach was so funny. Serious news. Is one steptric closer to getting out of the Consumer Lending business. The company is registered to file for an ipo of its north American Finance unit. They plan to complete the ipo later this year. Callediness will be synchrony financial. The Biggest Investment Bank may be taking a hit in the first quarter. According to jp morgan, revenue from trading them under running, and m a may follow total of 11 simply because clients are cutting back. And also the biggest losers will be barclays and hsbc. Nothing toys it has hide. The government denying reports the missing jet flew for several hours after the last reported radar contact. U. S. Investigators increasingly suspect that whatever happened to the plane did in fact involve a criminal act. We want to bring you to bloomberg investigations into of the
Dow starting off from this second record close in 2014. Both the dow within 1 . Mergerish monday. Pfizer presses its case for a tra s stra seneca. Ibms ceo saying the company is facing a rocky time. Geithner saying the country is stronger. Some are taking issue with his recount of how we got there. Stocks are poised to end with the second record close of the year. Lets start the week by talking markets guys. Strange that we get this record. And the russell close to that ten percent. I dont think we should be talking about bubbles. I think we should be talking about the incredible shri shrin bubble. They lead the biotechs and they are all about the money going from high multiple difficult to value stocks to kind of classically valued companies that are 17 times their general. 13 times, not many 20 times. I think this is unnatural. Not unlike what happened during the second week in march. Four of the top five stocks were nasdaq stocks. But im saying dont fret. It is happening, it is happ
Plenty to chew on this week. Although the big news of the morning well get to that. The ten year awfully close to the lows of the year. The 257 a lot of feds speak this we week. Europe is in the red are and dozens die in the ukraine. Fall out from the Massive Customer data breach continues. Warren buffet this morning explaining the vote around the Compensation Plan and more. First up greg steinhoffel is out. Target has named John Mulligan as ceo while the Company Searches for a new chief. But as time goes on, we are going to get down to the bottom of this. We are not going to rest until we know how that happened. But we are going to come out at the end of this a Better Company and we are going to make significant changes. Going to remain an adviser as the search going on. Im not sure he knew it was going to cost him his job. It has a good board. He has a good board and when this happened, it was surprising and very out of keeping with what we think of as target. Earnings per share boun