Trade tensions recession concerns Interest Rate worries and nowolitical drama. Despite it all, stocks stayed steady. Lets run through the numbers. Today on the last day of the quarter, the Dow Jones Rose 96 points to 26,916. The nasdaq added 59 5 the s p 500 was up 14. For the month, all of the major averages were higher. And for the quarter, the tow and the s p were up, but the nasdaq dipped slightly. Now comes october, a month that historically is volatile. And the next big hurdle earngs. For the Third Quarter officially out of the way, the markets are still on track to end the year strong. Investors are going to be fixated on the next big catalyst and that is earnings. This next great earning recession fear that dominated the First Quarter and the fear that companies would lower earnings expectations in the second half of the year because of the tariffs and trade wars none of this has ever come to pass. Earnings have heldel steady and remain roughly flattish for the second quarter,
Cnn prime time with abby philip is up next. In the early 20th century, the Marx Brothers became one of comedys most famous acts. They were showman, full of gags and stunts on stage in front of the camera as well. And in a wild twist, a century later, one of their most famous lines is now being used in the fraud trial of a former president. Your excellency, i thought you left. Oh no, i dont leave. But i saw you with my own eyes. Who are you going to believe, me or your own eyes . That was the quote. It was used by a judge in a ruling that donald trump is liable for fraud, pointing out that trumps fantasy world when it comes to the value of his properties and himself, and like the marks brothers, the scene inside and outside New York Citys courtroom today became a Vaudeville Routine and a parade of insults. Good evening, im abby philip, and trump appearing today in court for the first day of his trial, which threatens to decimate his entire Real Estate Empire in new york. This is a conti
Julie hyman . Julie the markets continue a pace with this big backdrop of political events. Markets are moving higher. The stock market are moving higher. We have seen a more sideways movement after the initial push upward following the election of donald trump, we saw a sideways move heading into 2017. Seeing all three major averages up. 5 each. Lets take a look back at the rally and compare it to some of the other recent president s between a first election and their Inauguration Day. In modern history, the trump rally has been the best with the s p 500 gaining 6 followed by president clinton with a 4 gain. President obama saw a 15 drop following his election. And president george w. Bush for a 6 drop. Clinton performing the best over the balance of his two terms followed by president obama. Those first couple of months were not necessarily an indication of falling performance. Politics aside, we got a lot a big earnings to report yet to talk about as well. General electric shares ar
Shift absolutely in the way the market views the relationship between the white house and the economy. And therefore the stocks. It was an amazing transformation which continued today, even as the dow gained 40 points, s p declined 0. 14 and nasdaq advanced 0. 54 . Nice little recovery for the nasdaq. Looking ugly there. We spent all week talking about the markets reaction to trumps election. How it went from being shocked and dazed and confused and scared to suddenly bullish in the blink of an eye, with investors reaching for stocks that benefit from aggressive Economic Growth while they dumped the nogrowth gridlocked names. The sea change was radical because the two candidates were radically different. Clinton stood for more regulation, higher taxes, and if she won, shed have a Republican House of representatives, which would have meant for gridlock. Thats what the stock market had been banking into going into the election since the polls showed clinton way ahead. Trumps a real estat
Which continued today, even as the dow gained 40 points, s p declined 0. 14 and nasdaq advanced 0. 54 . Nice little recovery for the nasdaq. Looking ugly there. We spent all week talking about the markets reaction to trumps election. How it went from being shocked and dazed and confused and scared to suddenly bullish in the blink of an eye, with investors reaching for stocks that benefit from aggressive Economic Growth while they dumped the nogrowth gridlocked names. The sea change was radical radically different. Clinton stood for more regulation, higher taxes, and if she won, shed have a Republican House of representatives, which would have meant for gridlock. Thats what the stock market had been banking into going into the election since the polls showed clinton way ahead. Trumps a real estate developer, though. He develops real estate. What does he stand for . Lower taxes, fewer regulations, borrowing money to build infrastructure. When trump won, we had to throw away many of the s