Likely added 193,000 private jobs last month. And then the Big Government jobs report out on friday. Sara, thanks. In Corporate News, a number of legal headlines out of the Financial Sector this morning, jpmorgan agreeing to pay 614 million in the mortgage fraud case. The late nest a string of legal claims against the bank. As part of the settlement, jpm admitted it defrauded federal agencies by underwriting mortgage loans. At issue, thousands of insured loans that were not eligible for insurance by the fha or department of veteran affairs. Morgan stanley will pay 1. 25 billion to resolve the mortgage lawsuit. Morgan will add 150 million to its legal reserve as a result of the settlement. And a new judge priding over the bank of americas proposed 8. 5 million settlement has postponed entering a final judgment in the case. The decision raises the possibility of additional rel maneuvers. The judge agreed this wouldnt take effect until at least february 19th. Andrew, what was the total of
With all of this Global Selling starting after weaker than expected ism numbers. It was a big drop. It dropped from 56 to just over 51. Massive unexpected decline and that really started things off. At the end of the day, the dow was down sliding 326 points to close below its 200day moving average. Also, the s p 500 losing more than 4 had . And the nasdaq dropped 106 points, to close below the 4,006 level. Where does that leave thus morning . At least at this point, the futures have been bouncing back, but just mildly. Now youre seeing some of the hesitation. At some point, the dow futures up by only 15 points above fair value. S p futures up by just over 2. 25 points and the s p up by 3. 6. Over to scott webb has todays top stories. Many of those stories this morning involve Quarterly Earnings reports. We are watching shares of yum brands, the parent of taco bell, pizza hut and kfc restaurant changes. It reported Fourth Quarter profits 86 above estimates. Sales fell shy, but the compa
The roadmap begins with the markets looking to recover after logging their worst february start since 1982 for the dow and for the s p. Michael kors trounces estimates while jcpenney reports its first quarterly samestore beat in years. The parent of kfc, pizza hut and taco bell adds its recovering from the lingering fallout of food safety concerns in china. And apple is reported lie by the wall street journal and quietly laying the groundwork for a vast internet infrastructure capable of delivering a lot of data and content to consumer. The dow tumbled 326 yesterday and growing concerns of a weaker u. S. Economy surrounding emerging market worries and the nikkei down 42 overnight and the worst loss in nearly six months. That index is down i think 15 for the year to date, jim. Rough, rough. Terrible. When i see adella, your man might be in there. Your man, no one knows him very well. Exactly. Were out of data. Weve had nothing but notsogreat data. Its going to snowstorm tonight and this
That is Continental Energy ceo. Im going to add to the kudlow report. Good evening, everyone. Im larry kudlow. Live here at 7 00 p. M. Eastern and 4 00 p. M. Pacific. Stocks bounced back today but only regained a small fraction of what they lost yesterday. Lets get all of the details from bob pisani. Good evening, robert. Hi, larry. It was steady as she goes today after several days of turmoil the dow moved in a narrow range and moved towards the highs of the day. Why the pause in the selling . The markets were very oversold and many traders are waiting for tomorrows ism Services Report and fridays jobs report to see how weak or strong the Economic Data really is. Not surprisingly the most beaten up stocks rallied the most. Etfs for turkey and indonesia and poland were all up. Natural gas spiked 8 on the cold weather so exploration and production stocks like pioneer and eog were all strong today. Michael kors had a fantastic report which helped retailers like fossil. Reaffirming the 20
Deficit is incredible intimidating to both home gamers and professionals alike. There seems to be two sides to every story. And the vast number of times in this market, the ugly side is taking precedence. Even as initially the Positive Side seems to be winning. These reverses were forward progress, doesnt matter, are shocking people and making so many investors rethink whether its even possible to make money in the market. At least at this very moment. First, let me just say, for now, the market is dominated by traders, particularly traders that believe the average has to fall, maybe 4 or 5 more before we get on even footing. That over arching view of the s p 500 in the market where futures and eft trading color everything is setting a tone. One thats got tremendous gravity because we could potentially get a hideous employment number in two days. Let me give you trade and true brutal numbers of what im talking about. Vicious stories from the front, okay . From the front lines. Where th