Good evening, everyone, on this christmas eve. Im suzy. Tyler is off tonight. So it looks like santa started his rounds a little early today. Stocks edged higher thanks to some encouraging data about manufacturing and housing and well have more on both those topics in just a few minutes. Traders called todays gains the start of a socalled santa claus rally. Thats when stocks rise in the final five trading sessions of the year and on wall street thats a bullish signal for the new year. Today investors and traders spread a little Holiday Cheer to each of the major averages. The dow and the s p posted new alltime highs and the nasdaq had its best close in more than 13 years. The dow rose another 63 points. The nasdaq was up 6. And the s p added 5 points. Over in the bond market, worries about whether the Federal Reserve would taper its stimulus and cause a sharp spike in Interest Rates has been a big headache for bond investors. Just ahead of the feds taper announcement last week, investo
Finishing at 1768. No new records for the dow or s p tonight but not a bad start to the week. Bob pisani following the action as olzalways. Now historic high for dow transport. Weve been talking about it all day, due to airline stocks. Historic highs on delta, u. S. Air all on the upside. Low oil since going back to june. Thats a big help. Thats what moved it forward. Speaking of oil, ive been talking about exploration and production stocks. Its the fracing plays and Companies Involved in fracing plays, northern oil, concho, they were strong all day again. The big surprise has been exxon. Theyve been dead money all year. Moved up again big today. Since earnings last week there were modest increases in Oil Production. Theyve been flat to down for years. They spent a lot of money on capital expenditures. Bulls are out saying we might see growth in Oil Production from exxon. That was 85 a month ago. Thats a big move for exxon in the last few days. Lets talk about housing stocks. Realology
The third in four years. Well have more details in squawk sports a little later this hour. But notre dame didnt show up at the beginning of this game. No. Alabama was the superior team. I didnt see a single inning. A single inning . You didnt make it to the ninth . Those rednecks spanked those catholic boys. Thats i watched the first half and then went to bed. I think a Rutgers Notre Dame game might have been better for the viewing audience. It was a bad, bad first half. The s. E. C. , you know, theyre looking for somebody to come in that can give them a decent game. Im telling you, they were the only team that showed up. Alabama, they deserved this national title. Yeah, but they got beat. Johnny manziel beat them. But they looked so good. Weve seen other teams, lsu has played them tough. Im telling you, alabama is lsu played them tough. People say notre dame didnt play anyone. Notre dame beat michigan, michigan state, stanford, oklahoma, usc. There were some squeakers in there, though
Setting up for pretty nasty open. At least if youre long at this point. Look at the tenyear. Thats become an important oh, its always important but its become perhaps important again to whats going on in terms of trading and the view of the overall equity markets rising to twoyear highs after weekly jobless claims fell to levels not seen since october of 07. Yes that is a good thing. In fact, you could argue thats even a good thing, too. Lets get to the road map. It starts with the major indices in the red. Investors wondering whether we were in taper territory as two dow components red on the market. One is walmart. Shares rolling back today after the retail giant cuts the fullyear forecast citing tightened Consumer Spending and payroll tax increase. Another dow component deep in the red today as well is going to be cisco. Company cutting 4,000 jobs despite an increase in profits that is sending the stock down sharply in premarket trading. And organic food maker annie is up 40 out per
Resolve the issue around nuclear programs, that can serve as a major step down a long road towards a different relationship. Extending an olive branch. President obama pledges diplomacy with iran. But which markets could be impacted if sanctions against that country are lifted . And back to business, why big oil is making a big investment in the gulf of mexico three years after the bp oil spill. All that and more tonight on nightly Business Report for tuesday, september 24th. Good evening, everyone. Its now four down days for the dow and the s p 500. Investors still not feeling encouraged by stocks even after positive comments today from one of the most influential members of the Federal Reserve. Bill dudley, vicechairman of the fed and president of the new York Federal Reserve bank, says nothing has changed at the nations central bank that plans to taper back its bondbuying stimulus measures this year are still on the table. Listen to the words of bill dudley when asked if the fed cou