Picture in a moment. Lets take a look at what were seeing right now, the Dow Jones Industrials down 220 points, thats a loss of about 1. 5 . The nasdaq composite down nearly 2 at 4025 and the s p 500 in that pullback load that we were talking about, and january 15th was alltime high for the s p at 1848 and change. So right now 1754 would mark a 5 pullback, and people are wondering whether this is an entry point, do you wait and see . Friday is the jobs report, traders talking about the fact that the last jobs report was so weak, so thats something that also weighs on traders minds. January was a tough month, we saw the biggest point drop this history of nearly 900 points, and heres a look at the volatility index. Its right now up 7. 7 . Shows our fear gauge. Back to you. Lori okay, nicole. Thank you. Adam and the weak data started overseas, the official reading on chinas Manufacturing Sector showed it slip today a six month low in january. The report was in line with expectations, but
Up next, after words with author deborah dingell. This week, bob lutz with his book icons and idiots Straight Talk on leadership. The former vice chairman of General Motors discusses the latest amid the best and worst impressions on him during his career in the auto industry. The program runs about an hour. Bob, great to be with you this afternoon. Hope you are doing well. Guest thank you, debbie. I am and hope you are too. Host i am. I enjoyed reading the book this past week. Ive known you a long time and know a number of people in the book you read about. Why did she write this book now . Guest well, it is clearly something i couldnt have written while i was still actively employed by General Motors because some people are there within General Motors or within other Companies Might taken offense. But he was a book i always wanted to write because i worked for a number of very interesting personalities and i felt sometimes skewed personalities, people with a great deal of ability on o
U. S. Airwaysamerican. What other ones are in your mind . This was the year of the big deal. Who could Forget Verizon buying the entire stake. Ack from vodafone that was an enormous deal. It helped deal volume spike up a little bit. At the end of the day, the number of deals we have seen is relatively flat compared to last year. The total number was abysmal, quite dismal for bankers and lawyers on the street. They will have to look ahead to 2014 to see if there are opportunities to bump the number up. A lot of private equity firms are waiting this out, trying to make a big splash in 2014. You mentioned verizon. Most of the big deals were in tack or telecom. That is right. We might see a few more going on. This is a mature industry. There are some big deals we could see going forward. Mobile outu have t there that is still a target. We might see softbank make a run for that. They are the majority owner of sprint, so they will have to consolidate to capitalize on that Business Model. Tha
Firework which would handily beat the previous record of 77,000. This is just a few of those many many fireworks. I love that it is in a display of extravagance and decadence it is kuwait against dubai. It makes sense. You have oil money, you need something to spend it on. If i had that money, i would spend it on fireworks and other things. We will kick it off with the big three index. Are filling in obviously for adam and trish. Rising just a tiny bit today but really capping off what has been a phenomenal year, over 29 thate game for 2014 and does not include reinvested dividends. Lets take a look at the 10 year here. Also a great year if you were shorting bonds. The yield was up over three percent today. It is interesting if you look across the spectrum, i find the 40 year to be more interesting. The tenyear is what is directly linked to mortgages or driving that which is what most people find interesting about bond yields. Take a look at at the gold futures here. Also a good place
I think that the words and the deeds we are hearing out of china, jim, are encouraging. This administration seems to be much more committed. Lets keep going. The reforms they are making in terms of letting the market determine the distribution of resources. These are revolutionary. We will hope that this leads to a kind of openness that ends up being a model for the world, if they continue with what they have told us. His activities are all related to corruption internally. They are not related to corruption that relates to external business. I think that is a very big hurdle to jump. Again, i think our role is to be as vigilant as we possibly can and call it out when we see it. The first decision i had to make was this one. It set a tone. This is what we have to do. We have to call it out when we see it. We have to encourage it everyone, especially all the major players, to look at it internally and externally. I think the new york example is a good one. There are so many things that