points at the moment. nasdaq also tracking higher. we ve got disappoint on the weakness jobless, price index walmart but still we continue to cut those losses in january. nasdaq, as you can see, up 15 points. and on the s&p, significant headway, just above the 11100, the 1105 level. possibly, could we breakthrough and close above it? important for some people tonight, maria. we ll see with there move higher. get to our teams covering the markets at the nooits neutral ice, semiconductor group in chicago. we kick it off with mary thompson with her eye on the nyse. reporter: appears to be some technical element involved in today s rally. the markets are holding pretty onto modest gains earlier and then we saw the s&p 500. basically move to its best levels so far this month. take a looking at the intraday chart of the s&p because once it moved to above 1103 and then the rally extended. the s&p 500 adding about the rally was near-term resistance at the s&p. at the close is t
sufficient accuracy to make the policy appropriate. one thing as you said look at sheer volume compared to customer business. the pattern of gains and losses, which have a strong suggestion of proprietary trading because if you are quickly accommodating a customer they are not likely to be big gains or losses. you don t have to have a cliff prohibition. it s clear that you want prohibition of purely proprietary trading but if the other volume gets big enough to raise suspicion you have the tool of capital requirements that is available to the supervisor to suggest in a particular circumstance there ought to be a very heavy capital charge for this activity. that would automatically limit it. secretary? thank you, sir, chairman dodd. i agree with chairman volcker. i think that there are important questions here, obviously. i think we would basically want to embed in statute the basic principle if it is not customer related it is proscribed, but that if it is related to cust
now it s time for call to action on stocks to watch during afternoon trading. cnbc s matt nesto is here with a look. hello, matt. ? hey, larry. you know what s interesting, there is a dow derby. we have four dow members that have reported. two up, two down at last check. the intraday turnaround of dupont. it opened down low and it is moving higher. it s about 0.8% higher, but verizon continues to be the worst performer in the dow today and travelers, one of the best. if you take a look at the interday battle between insurers and the telecoms, well you ve got one up and one down, both by about the same amounts and those two stocks are having a spillover effect right on through their particular industry groups. take a look at u.s. steel. that stock has shed more than 20% since earnings season began with alcoa on january 11th. oh, that s just hideous. another 9% giveback here today. just nothing good coming out of the big x. zion, the same cannot be said. the company certainly
technology earnings front center and center. live from the new york stock exchange, this is the final and most important hour of the trading day. and welcome to the closing bell, everybody. i m scott wapner on the floor of the new york stock exchange. maybe a bit gloomy outside here today, but melissa, we ve seen a nice bounce back in the stock market. that s right, i m melissa francis in for maria bartiromo at the cnbc global headquarters. we re seeing strength a head on wall street. let s take a look at where things stand on wall street. right now you can see we re not quite at the highs of the session but well off of the lows, up 77 points. about 3/4 of a percent on the dow. 2250 the last trade there. the nasdaq trading on the plus side by better than 15 points, also about 0.7%. 2220. and the s&p 500 is higher right now by about 11 points right now. that s better than 1% of the major indices on a percentage basis. the s&p doing the best right now. scott? and meli
you know. a lot of it depends how much blame you put on 0% interest rates. right, david? your whole documentary that you did when you talked about it all began after 9/11. yeah, well, we only got to 1.25% if memory serves on the fed s fund rate back then under greenspan. the cars we had the 0% financing for cars, right? i think an interesting question here is when people tally up the cost to every day people in terms of the bank bailout you have to figure that in as well. nobody can save retirement when they are getting .003. we have to leave it there. we have to fit the 6 in 60. i believe that i start. so a.k. steele, fourth-quarter results better than expected. based in ohio. swung to a profit over the past year. this stock surged. mier today. nordic american tanker shipping upgrade from sell. price target on the tanker to 30 from 18. and last but not least, continental airlines, upgrade from buy to sell at argus research. tiffany & company, upgraded to over