Weve got an allstar team lined up to get you the numbers, and more importantly, what they mean for stocks in the broader market. Stay tuned in about an hour when the action heats up. An impact on tomorrow, without a doubt. You know the saying buy the rumor, sell the news . When it comes to bill ackman and his reported takedown of herbalife today, it was more like sell the rumor and buy the news. I mean, big time. His presentation didnt tank the stock, as expected, it did just the opposite. Herbalife is surging right now by 18 . Why does the market think that hes so wrong about this company . Were going to take a closer look at that. Its an intriguing story. It is. Now, lets look at where we stand in the markets. The s p 500 at 1,982 is currently three points away from trading at an alltime closing high. Now, the Dow Jones Industrial average not far behind. Its at 17,110. Its High Water Mark is 17,138 for the close, 17,151 for the intraday high. And finally, the nasdaq doing reasonably
August. Personal spending suffers a drop since january. Latest moon shot project unveiled by google x. Delivery drones are real, and google and amazon are not the only Companies Taking to the sky. Apple preparing to catch its rivals and roll out technology that turns the iphone into a credit card. Well see september 9. First up this morning, Economic Data shows a decline in consumer spending, down. 1 in july, and auto purchase account for the weakness. The dow and s p each up more than 3 for the month, and nasdaq with a more than 4 gain. S p, nasdaq, and russell on pace for the best performance in 14 years. There was a contest whether august would be the best month of the year. It will be tough. Dow needs 16 106 points, and futures are not indicating that sprept this morning. Still a strong month. Four straight weeks of gains, something not seen. Since november. Overall, a strong month. Everyone is trying to figure out whether the growth we saw last quarter can be sustained. Economists
Where do you see opportunities . Well talk about that on power. Tyler continues on vacation. Im is not my partner at the nyse. Hi, simon. The theme for the first few minutes, the bear scare. One for stocks, another in housing. We start with housing. A big question being raised about the still recovering real estate markets. Fannie mae has been speaking to diana olick, or the chief economist has been speaking to diana. What is he saling . Reporter well, he doesnt call himself a bear, but he does say, quote, i am a realist. Fannie maes chief economist downgraded his forecast for the housing recovery dramatically. We have looked at a combination of the research we have done on the demographics, and then looked at the mechanics of the construction space and looked at what some of the boomers are doing, and we concluded that people are too optimistic about whether or not 2015 is going to be a breakout year for housing. He says it wont be. So out came the ax in august. Duncan dropped think f
Are they now offers better food. Would it make a difference if you got a better meal in flight . Go and vote, cnbc. Com vote. Plus what was this postman thinking . Wait until you find out what was in the box. Sue herera continues on vacation today. But susan lee is live at the new york stock exchange. Hi, susan. Happy friday, tyler. Lets check on the markets. Well throw in fixed income, and gold, oil across the board not Much Movement there with the gold pricing still below 1300 an ounce. A story from dominic chu right here. The gold is interesting mark that you mention here, only because weve seen gold that has been on a slide the past week, weekplus hikes arent that imminent maybe, so maybe god is there. Over the course of the past week, we were thinking that we were due for a pullback, but we slowly ground higher. Whats interesting cyclical ones, the s p is up about almost 2 for the week, so if you missed it, financials, technologies and industrials are all up about 2. 5 to 3 . They
Portfolio funds, and our own rick santelli. As mentioned, were seven points out from an alltime closing high on the Dow Jones Industrial average. Karen, whats it mean to you here . It means that we could definitely go higher. Its just a number, and everything is coming in better than expected, Economic Data, corporate earnings. So, i see us going higher for the rest of the year. Looks good. Everythings coming up roses. Michael pagino, do you agree . I would say those are all true, but for every one of those positives, theres a negative. You know, housing has slowed down, equity prices are not cheap, theyre fairly valued. So, values are harder to come by in the market. Youve got geopolitical risk that i think investors are largely ignoring at this point, its impact on economics, because everybodys been focused on the u. S. And the fed lately. And so, i think there are some negatives, but i would agree, as long as the moneys easy and corporate earnings and top line growth continue, then