Tim has an interesting explanation for that. First, on a day that saw the dow break 18,000 for the First Time Since july, the results were seeing from netflix and ibm and morgan stanley, justifying the fierce rally we have seen in stocks. Steve grasso . I dont know if its justifying it. I think yellen, the fact that the job is pitting everyone into equities. I dont think shes done a great job for the overall fed. But i guess if you gauge her success on equities, shes done an amazing job. I think you get tired seeing whether utilities outperform. The sell the news event with opec, it happened too quick. The selloff in about 12 minutes. It wont realize positioning. It had to get long again. Dan, i said to you before, earnings are going to be lame at best and the dow is going to top 18,000 and close above it for the First Time Since july, and the beginning of midapril. You probably would have told me you were crazy. I think steves wrong, and i dont think youre wrong too often, steve, but
Policies, on some regulatory issues and things like that. I dont think they will get that tonight in the speech, may get mentioned, an overall thing i need to simplify. You cant see past the quarter which is why they have so much cautious. You want to stay long. Ite be getting out of my positions. You can get out but cant always sell them. Thats why youre a veteran trader on the floor of the stock exchange. Thanks for joining us. This will be the first close above 14,000 since february 1st. More on that and, plus, whats going on on Carnival Cruise lines . Ill see you tomorrow. And it is 4 00 on wall street. Do you know where your money is . Hi, everybody. Welcome back to the closing bell. Take a look at how were set lipping out on the street today. After a pretty good rally in stocks. Nasdaq was under pressure dow up about 47 points. Thats off the best levels of the afternoon, and volume really underwe underwhelming today. Nasdaq down five points and ath big problem there showing anoth
To maintain its pledge of increasing Monetary Base at an annual pace of 600 billion to 0 700 billion. T well be watching very chosely. European trading, you can see the stocks there are off a little bit too. The worst performances the ftse 100, down over 1. 2 . Down about 80 points. The u. S. Equity futures here are looking like they are also indicated lower. The dow futures are indicated down by almost 60 points. S p futures off by just over 7 points, and, again, the decline we saw yesterday, the 93point drop, the worst performance we have seen since the end of june, june 28th, the last time we saw a move like that, which tells you how calm and fence sitting the position these markets have been to this point. Also today, the treasury will offer 20 billion in tenyear notes at 1 00 p. M. Eastern time. As for data points, the Mortgage Bankers Association Release at 7 00 eastern. Economists expect to continue to see downward trend in the rise in rates. Earnings front, ralph lauren, time w
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