Youre watching First Business financial news, analysis, and todays investment ideas. Good morning. Its tuesday, november 20th. Im angela miles. In todays first look traders and investers are feeling better about the possible ending for the cliff hanger in washington. They were buying the market with both hands on monday, leaving green arrows pointing higher across the screen for stocks and commodities. Federal reserve chair ben bernanke speaks today at a new York Economic Club meeting. Hes expected to talk about monetary easing and the economic recovery. Eurozone leaders meet today to talk about bailout funding for greece. And the World Bank Says more droughts are likely worldwide as Global Temperatures continue to rise. Violence is ratching up in the middle east. John brady of rj obrien joins us now for a look at the trading day from cme group. Good to have you on the show this morning. Thank you much. Oil prices were higher yesterday by almost 3 during the session at one point. Is th
Equities were favored over bonds but the flows into equities moderated into october. As for december, it historically has been the best month on the average for the dow and the second best month for the s p. This morning the futures, when we get into the trading month for december, you can see they have barely budged. Dow futures by 4 points, s p down by 1 and nasdaq up by 1. 5. Among the eye lights, we have the European Central banks last meeting of the year. In the u. S. , a first revision to the Third Quarter gdp comes on thursday. Friday, the big number. The november jobs report. Markets watching that very closely to try to figure out what the fed is thinking about all of this. Steve, ill send it over to you. Thanks, becky. Lets talk shopping. After the First Official weekend of Holiday Retail. The National Retail federation reports shoppers spent less than they did a year earlier. The nrf suggests shoppers spent 407. 20. Online sales soared. Meantime, Research Firms say the traffi
Missing Malaysian Air flight. There are now more calls to install new technology so that passenger planes will always be in communication with an airport as we were discussing here yesterday. Absolutely. But get this, joining us today is a former pilot who has flown that same route between c cue kuala lumpur and beijing. An exclusive interview with john watson. His company just announcing it will be cutting production three years from now. Why . And whats changed . Well get answers to that. His view on oil prices and a lot more coming up with the ceo again just after the close. And two doctors with very different views will be joining us. One who says hydrowill start killing people the moment it is released. Its a highly controversial drug thats received fda approval. There are plenty of people who say it should not have. Remember the sgr thats a pretty powerful statement. First to markets where the dow off 80 points as we speak. Nasdaq off about 3 4 of 1 . Down 32 points. And the s p
And s p up 1770. Money moving into equities in a big way. Bob pisani, todays jobs report putting the taper talk back on the front burner and yet we still have a rally in stocks. Thats right. Where we saw damage was in Interest Rate sensitive stock, the tenyear moving slowly toward 2. 8 . Take a look at Interest Rate sensitive groups. We had damage earlier in the week. Im going to put up the whole well, reits, emerging markets, housing, telecom, utilities, all down today. S p 500, worst day in two months yesterday. Look here. Thats a perfect u, a twoday chart. Doesnt get been than that. The important thing about today, is the beaten up groups today, the bioTechnology Stocks, some of the oil stocks, the xop, the airline stocks, and the momentum names like zillow and netflix, baent up earlier in the week. Financials, higher rates, increases chance banks could charge more for loans, they move to the upside. Twitter, slam bang open yesterday but drifted lower going into the close. Right off
To miss it. Hey, im cramer. Welcome to mad money. Welcome to cramerica. My job is not just to entertain you but to educate and teach. So call me. We may all be focused on the fiscal cliff. Right in front of our eyes. Even as the averages denied washingtons gravitational pull, the dow gaining 60 points, s p climbing. 5 , nasdaq advancing. 20 , we know when the president or the speaker of the house comes on the tube these days, the market is going to get hammered. Sell, sell, sell, sell, sell, sell. Even if it is just temporary. Sell, sell, sell. The only thing you need to know is the time theyre going to come on. If you could just blast out of some Aggressive Growth stocks or sell some s p future us when see them walk to the podium, you could probably coin money im surprised the president doesnt start his talks by saying, look, look, america, im about to send the s p 500 down a percent with what i say. Ou how about the speaker . Suffice it to say we all have to keep one eye on washingto