Year e had the best week of the year last week. All three major averages are remaining higher even if it is only marginally so in terms of macromedias we did have data sales. The existing home we had a decline for the month that was larger than had been estimated. That is largely because of lean inventory. Not as many houses out there as people want to buy. At the same time however, we have holding permits last week that showed we could see boulders staying busy in the coming months. Existing home sales pulling back a little bit from a high level. Touching a twomonth high. The homebuilders themselves have been doing relatively well doing during the session. It really feels like commodities are what are leading the day. I was talking about it last week that based gold medals continues to be hammered. The longerterm correlation of oil and stock is not necessarily high rate but on an intraday basis but if you see oil reversed during the day, you tended to seek stocks going in a similar di
We will be taking you around the world over the next hour from manila to do by and paris to dubai and paris. Apec summit,at the where president obama has landed in the past half hour. Will Terrorism Take over the agenda . There is no official word whether it will be inserted. There will be a lot of chances and opportunities for people to get together and huddle, similar to what we saw between president clinton and president obama. We have been talking about World Leaders coming in. Present putin will not be attending. We saw them fly in, one after the airport. Teat the korean present is arriving. Over the next 30 minutes, we are turnbull. Malcolm it is a whos who in politics. They will be gathered a few minutes away from where i am. Talking to Business Leaders all morning, all of whom have been getting their thoughts together on what is happening in paris. They have basically said, yes, it is getting harder. One of the few things, the initial emails they got, was from their internal se
Doing the best throughout the day. In the wake of the big star wars weekend, were seeing some declines driven by oil prices that are pushing down energy stocks. Oil falling after having an up week. Is now pulling back and stocks are at their highest of the session. We see them around the lows of the session, down by more than 3 . We see a very tight correlation for oil and stocks. Yearsthis goes back to two years. Off of stocks coming up the lows. It is something that has really been weighing on stocks. Betty tell us about some of the movers. There are interesting movers to talk about. Copper and gold have been one of the big under performers for the year. Trading lower today but the company is announcing one of the departing the company from his position as chairman. They have been struggling. Another we are watching, the former sallie mae lender. He company falling sharply the Liquidity Position is still sound. After Michael Pearson went on medical leave according to the company, he
King of new york, a republican, that his bill could be brought to the interior and all of us ce the responsibility of selecting whose side do we stand on . We stand for the safety of americans and prevent people that are too dangerous to fly being able to buy a gun or do we stand with those on the nofly list and say, you ought to be able to buy a gun even though you can fly. All of you, voters and non voters, dont you think it is time for your representatives to stand before you in this house and say we agree that if you are too dangerous to fly and too dangerous to buy a gun, or stand here before all the American Public and say, no. No. No. Go ahead and buy a gun. Thats what a discharge petition will do. It will take mr. King to bring it to the floor and put it before the house of representatives, the representatives of the American People, and cause us to make a choice for your safety or for the presumed right of a person who is too dangerous to fly, to buy a gun. Well see what happe
Investors did before the events started occurring out west but ultimately the dow tumbling 159 points, s p plunging. Sadly, i believe, some of the Late Afternoon declined stemmed from worries about the tragic shooting in Southern California and whether it could be part of a larger terrorist action. Most of the selling started and was about Janet Yellens statements. We can flit in and out of stocks based on every Federal Reserve utterance as we seem to do. How about this . Maybe we can just keep calm and carry on . Except rate hikes are coming and go to work regardless of what is set by the fed to build a portfolio that fits our world view. Ouworld view even if the fed tightens. I know if youre oblivious to what yellen says or you try to be or what any Federal Reserve official of any importance says you may not know why the stock market spikes up or down on a given day or two. I know i cant afford to skip a big speech from janet yellen, i have to talk about it on the show. Every word. T