And supporters of ousted president Mohammed Morsi. A battle that has claimed the lives of more than 600 people over the past few days and injured more than 4000. President obama scolded the Egyptian Military today, saying that traditional cooperation with egypt cannot continue as civilians continue to be slaughtered before claiming to be neutral in the conflict. We do not take sides with any particular party. Or political figure. I know it is tempting inside of egyp to blame the United States or the west or some other outside actions for what has gone wrong. We have en blamed by supporters of Mohammed Morsi and we have been blamed by the other side as if we are supporters of Mohammed Morsi. Lou of course no one could better clear that up than the president himself. The mixed signals from the white house revealed the confusion within the administration. President obama calling for a return to a democratically elected government and his support for the Muslim Brotherhood it preserves a 1
Laying off 470 people from its Corporate Headquarters in minneapolis, this is to according to a report of the dow jones. These positions at target will not be fillld. The retailer said is that target is coming out of a dismal Holiday Shopping season. So lets take a look at this stock right now. Big blue on ibm. A lackluster earnings report. A big day on the board. 5. 5 largely due to a decline. And its hardware business and the stocks are the biggest drag on the dow jones today. They lost almost one and 7. 181. 74. Thats about 3. 5 of a loss on the big blue. We will check this stock through the close. And we are watching apple for you. The Company Facing new pressure. Now, carl ichan announcing that he bought another 500 million worth of apple to bring the total to more than 3 billion worth. It is doing shareholders a great disservice and is in effect actually higher right now. And so theres a little bit of the gain. A lot of controversy way carl ichan and apple. And some Big Name Comp
S p. Gold and oil both gained on the day. Dells early earnings. The Computer Company was supposed to report next week, but instead rolled out results last night. Dells earnings and revenue topped wall street. However, profits dropped 72 . The stock continues to trading around 13. And before you let the good times roll after work today. Johns hopkins researchers say 1 3 of people who wind up in the er on friday or saturday have been drinking. And most were drinking budweiser. Mark sebastian of option pit mentoring joins us now. Lets get down to it. What is happening with this selling spree . Whats going on . The 10 year is the dog thats wagging the entire markets tail. The 10 year beagn to really sell off yesterday morning and that drove all the markets. It drove gold, the s p 500. We saw the vix rally as well. All in all an ugly day yesterday. What about silver and gold. Especially slv and gld were the talk of the town yesterday among commodity traders. It was really interesting. Part
His testimony to congress on the economy. They are seeking clues as to when the fed will taper its bondbuying program thats been stimulating the economy. Stocks sink ahead of the fed testimony. The dow lost 32 points, the nasdaq 8, and the s p dropped 7. Gold edged up 8 and oil slid 35 cents. Yahoo is sending out a mixed message. The tech Company Earned a nickel more than anticipated, but the revenue and the outlook came in shy. Csx chugs along profits were up 4 as freight volumes rise. Larry shover of sfg alternatives gets the ball rolling for us this morning. Larry, what is the market telling us about that testimony on capitol hill by fed chair ben bernanke . Its funny you mention that. I think the next two days were just going to be on hold. People are so worried about the disconnect between gdp thats being revised downward and the jobs report, so people just dont know what to do with this. Perhaps some people thinking that tapering will happen in september, some thinking in decembe
Following betterthanexpected earnings from Morgan Stanley and comments by fed chair ben bernanke. The nasdaq added on a point. Gold gained 6 dollars, and oil 1. 74. Tech trading trouble is possible today. Google shares tumbled about 5 on earnings that fell short. Microsoft was also shy. Its stock dropped 4. 5 in heavy trading volume. Detroit has filed the biggest city bankruptcy ever in u. S. History. Motown is struggling with billions of dollars of debt. And, the latest Mortgage Rates declined. The 30year fell to 4. 37 . The 15year to 3. 41 . Chris gersch of altimus capital joins us on the show. Good to have you back with us chris. Good to be back. And the market hit record highs yesterday, but today is options expiration day. Theres a lot going on here. What do you expect . I think were going to have a really scary open, actually. The s p yesterday at the close was just something that you didnt want to be a part of if you were on the bid. I really think that the earnings that came ou