One last point, what does donald trump think about all of this . Hes on the show in this hour. Varney company is it be to begin. All right everybody im going to give you a chain of events that produced what is going to be a big selloff a half hour from now. Governments in europe and japan started keeping some of the money that you lent to them. Give them 100 and you get the 99 back that is bad. Banks not make money with this going on. Down go bank stocks way down. Thats bad. But price of oil crashes to a new low. Stocks take another hit. Independent Oil Companies are insolvent that is bad. Worldwide financial turmoil yes theres a flight to safety. That is what is going on. Heres market watcher jeff seeker. All right jeff, heres the question everybody ising can ask this. Is this a repeat of 2008 . I think theres a lot of similarities. I think theres things about market that concern me more than 2008. Primarily because this is a market that has been built on this sense of desperation tha
Were getting the move. There is two primary ones. Better china trade data, particularly on the exports. Then bank earnings, jpmorgan, lets call it good enough. Thats my phrase. People were expecting downbeat commentary. We didnt get that. That helped move the financials and the overall markets. High cash positions forcing a lot of people into the markets, Short Covering going on. Look at the china trade data. The news on china has been relentlessly bearish for a year. Everybody said, oh, my heavens, maybe the news isnt so bad. Short covering rally and hang seng, up 3 . Japan up, france up, everything up 3 . Thats a nice move for all the global markets. It is spilling over into our markets as well as europe, china trade data, helping things like material stocks, all been strong, so youre steel stocks like midtall, bhp billiton, glen corp. , all those stocks up here. Banks in the u. S. , jpmorgan strong and all of the other stocks in that group up about 4 . Key point here, banks underper
Roughly where they are. And any motion there is going to be slow and deliberate. Lets get to bob pisani on the floor of the new york stock exchange. It is the newest leg of this rally, Dow Jones Industrial average at a high for the year and much of it is being fueled by that weak dollar set off by the fomc announcement yesterday. Want to show you that dollar index. Dollar lost 2. 2 against other currencies just in the last 24 hours or so. Thats a huge move. Big move and big help from materials and industrials and Energy Stocks. Look at caterpillar here. Caterpillar gave the worst kind of profit warning, dropping essentially dropping profits 30 in the First Quarter and the stock is up 1 today. Look at that. Moved about 3 . This is a twoday chart. Thats a sign of how powerful the weak dollar rally has been. Now, take a look at other commodity needs, throw in a couple of names, free port, alcoa, devin energy, Energy Stocks moving today. This is the second day of a notable rally. Put the s
Could the major averages end 2015 with double digit gains . Yes, you heard me. Five weeks into the deadline, confusion and delays in switching over to the new chip credit cards creating a golden opportunity for hackers. They are preying. How safe are you. Maybe you should be praying. And is money that is being september by the Federal Reserve and treasury to iraq ending up in hands of terrorists or iranians . First lets check in with with sara. Good afternoon. We start with a stock market in a rally. All three major averages back in the green for the year. Could we be looking at 2015 ending with a dull digit gain . One market bullish strategist thinks so. Everybody is saying were going to flat line into the end of the year. Given where short positions are and how much capital is on the sideline, maybe we have a double digit end up 10 , 12 percent year. A bold call. Is he right . Brad mcmillan joining us. Lee has been right all along, but 10 to 12 sounds aggressive. In eight weeks. So t
Entertainment, personal drama still dominate the debate, not issues. Were on it. Markets are down again when trading starts. Chinas top guy says there will be no hard landing. Investors do not seem to believe him. Apapproximately tries for big splash. New iphone, bigger ipad. Investors not buying the hype. Was tim cook really trying to juice up christmas sales . Maybe the payoff comes later. There is al qaeda. It has a hit list of business personality, bill gates, warren buffett, koch brothers, bloomberg. Varney company is about to begin. The. Stuart lets start with the markets. Right from the getgo this thursday morning well be down about 60, 70 points. 16,000, is the that bottom . Good question. Ashley is here. We ask that question every day. Stuart we do, dont we . Is it the bottom . One of these days it will be. Stuart let me show you apple. Here is how it will open up this morning. Around, virtually unchanged from yesterdays close. They have a whole new of new products. We will ta