Evacuate power lunch starts right now for everybody in Southern California, its been a tough couple of days thinking of you guys the jobs data getting a bump to the bottom line. The nasdaq the bigger winner crude oil had been up 2 before it pulled back the rig counts, by the way, are out any minute now health care related. Alexon and celgene and mylan up as well. Another hot stock today, Sage Therapeutics this is on top of yesterdays 70 gain and the ceo will join us in just a couple of moments and steve, no shortage of stuff to talk about today. No. Very excited, brian. Especially with the jobs report. Lets get to it. Its getting to be routine economists say it should slow because of the population growth, theyre right about that part but the job market keeps surprising to the upside nonfarm payrolls up against an estimate of 195,000. October, september revisions not up much. Hourly average wages up just 0. 2 . And the Participation Rate also at 62. 7 Goldman Sachs saying despite the s
Believe that. They did it again and theres no oops attached. The major indexes, all of them, closed higher today than ever before. Youve heard that a lot lately, but heres something you havent. The s p 500 is having its best start to a year since 1987. And not since 1964 has the s p 500 set six consecutive records to begin a year. Investor optimism is high. Here are the happy and not at all fake numbers for the day. The dow advanced 102 points to 25,385. Nasdaq added six. The s p 500 was up four. Now comes the moment of truth. Quarterly profit results. And as bob pisani reports, expectations a. Reporter its been an amazing start to the year. The s p is up six days in a row, about 3 , its best start since 1987. Earnin season is now upon us. Prices and evaluations are at record highs. Its fair to say expectations are also very high. This past quarter has been very unusual. Analysts have been even more optimistic than they usually are. They typically start optimistic and then lower earnin
Up investors are nervous about whats happening in the bond market is that what this is about i think thats part of it but also the impact on health care from the announcement that we had this morning from mr. Buffett and jamie dimon and amazon is enclosuclearly is havn impact the expectation would be that youd see increased m a in 2018 when youre getting significant selling like youre getting in the managed Health Care Space youre going to see a dow tape clearly under pressure. Steph, the dow was down 350 around there, at the low yesterday sold off into the close. Whats this about . I think it is a little bit about rates but not fundamentals of the economy, its not about earnings because earnings continue to go higher. Its about getting overbought. Were up 7 in january still the best since 1989. However, youre up on top of 19 last year. So weve had a nice rally. We havent had big corrections, we havent had big pullbacks sure, rates are going higher and its something to be mindful of. B
Cost is going to federal government taxes and fees that are imposed upon the consumer. They should turn the witchhunt back around on them. Would they rather an industry that has half empty seats or half empty planes that loses millions of dollars, or would they rather an industry that instead has full planes and is turning a profit that is able to then reinvest money into the economy that provides good middleclass jobs . Because thats what the airlines are doing right now. And the only reason these are so high are because of the federal government taxes that are imposed upon, you know the airlines here and they have to absorb that cost somehow. John is this really going to make the flying experience any better . Is it going to improve our lives any more . No and i dont understand why theyre doing this. Its hard to fathom how wrong the government is in this. Senator blumenthal, who lied about his military record has also come out and said air fares are skyhigh. Hes completely wrong on t
Cost is going to federal government taxes and fees that are imposed upon the consumer. They should turn the witchhunt back around on them. Would they rather an industry that has half empty seats or half empty planes that loses millions of dollars, or would they rather an industry that instead has full planes and is turning a profit that is able to then reinvest money into the economy that provides good middleclass jobs . Because thats what the airlines are doing right now. And the only reason these are so high are because of the federal government taxes that are imposed upon, you know the airlines here and they have to absorb that cost somehow. John is this really going to make the flying experience any better . Is it going to improve our lives any more . No and i dont understand why theyre doing this. Its hard to fathom how wrong the government is in this. Senator blumenthal, who lied about his military record has also come out and said air fares are skyhigh. Hes completely wrong on t