Good morning. Welcome to squawk on the street. Hope you all had a good christmas. Im melissa lee. Were live from the new york stock exchange. Jim cramer has the day off. The latest s p schiller home price report has been released. The results being shown at the bottom of your screen. David blitzer will join us with a closer look at the numbers in just a few minutes. Lets get a check on how were setting up on this day after Christmas Trading session. The dow looking higher by about 15 points. S p looking at about two points at the open. European markets closed on this day after christmas. The uk and france among those celebrating foxing day. We start off with, what else, retail. Dips in spending in the midatlantic and northeast regions. Luxury sales also weak. Were coming off the worst Christmas Eve for the dow since 2006. As the president cuts short his hawaiian vacation to deal with the fiscal cliff, just five days to go until we go over. Threatening both coasts with workers snubbing
The nasdaq a 13year record. Heres where we stand right now. What does great 2013 spell for 2014 . There you see the industrials up nearly 82 points. The s p up 10 and nasdaq up 38. So what the heck . Thats what were calling it with the tenyear near 3 . Rates rising in china. How can we hit record after record . It usually doesnt work that way. This time, maybe as the saying goes it will be different. Sue is out, joined by michele at the new york stock exchange. Hey there, tyler. The dow up today, you said it a second ago. Take a look at the returns for the year so far. 25 . The spy, the etf that tracks the s p 500, if you put 100,000 at the start of the year you would be up by roughly 28,000. The triple qs track the nasdaq 100 up 33 year to date. Bob pisani is here on the floor. If you put 100,000 in the s p at the start of the year i would be impressed and hang out with you for a while. Last week with the big rally it would cut into the santa claus rally. It starts tomorrow. Good for
His annual vacation in hawaii to deal with the fiscal cliff. No sight of congressional leaders. Theyre not in town. Investors getting a little bit nervous. Will congress get it together in time . No talks that we know of are imminent. It was by at least one measure, the weakest Holiday Retail sales growth since the financial crisis back in 2008, but could a postchristmas holiday sales bounce be around the corner . And what a year it has been for tech. Gadgets and gizmos. Apple, facebook, microsoft all have big news. Will 2013 be a lucky year for the sector . Which tech titans might lead the new trends . Simon hobbs is in at the new york stock exchange. Good afternoon. When president obama arrives back in d. C. , can he prevent america falling over the fiscal cliff . House republicans havent yet called their members back to washington. Our chief political correspondent, john harwood, is with us. John, this feels very much like it might be the calm before the storm in more way than one.
If we move higher on the Dow Jones Industrial gains and close around these levels, you will see the 40th record high of this year. That would obviously be a big, big deal. We have seen a long winning streak. So you do see the nasdaq and the s p have pulled back. Records for these recently, however today a mixed bag. 3m, home depot, Johnson Johnson have hit record highs today. Momentum seems to be still to the upside. Commodities are gaining. The dollar pulling back but certainly a lot of names we are watching and home depot with higher volume as well. Lori and this news alert. Waiting for official word of the jpmorgan settlement as Charlie Gasparino first reported, the deal announcing today with 13 billion payout. The deal will settle claims the bank overstated the quality of mortgage security during the housing boom. In talks for weeks and as charlie has reported, lot of the backandforth has to do with the language of the deal. Adam making comments about the future move. When he was q
Marked to march 9th, 2009, five years ago this coming sunday, so happy pains bottom anniversary. A new report that Shows Americans have never been wealthier, but theres a catch. You had to be in the stock market to the benefit. Michael farr will be with us to make the case that you have to be in it to win it. Thats especially true for young people. We have the facts and statistics to back that up for us. Something he says is the case even at these levels today. If you missed out five years ago or five months ago, hell make the case for today. Could the crisis in the ukraine still end up being a speed bump for the market . Both sides digging in ahead of next sundays vote on who will control crimea. The current Prime Minister saying he will allow russia to take it back. If no one blinks, will is the stock market look vulnerable again . Also, what could be a gamechanging lawsuit in las vegas. It sounds frivolous. A gambler, he dropped half a Million Dollars, is suing to get it back claimi