Action, the dow fell 8 points, the nasdaq moved up 17, and the s p closed up 1 point wednesday. Stocks pulled back following the release of the feds fomc minutes. Gold gained 10, and oil surged more than 2 yum brands reported earnings after the close that topped expectations, but overall sales were hit by kfcs chicken trouble in china. Idc reports global sales of pcs took a doubledigit decline in the second quarter. And, fords sticker shocker the automaker is slashing the price of the 2014 ford focus by 10 to push the plugin cars out the door. Joining us now for trader talk, todd horwitz of average joe options. Good morning. Good morning, angie. Did the fed cause traders to hit the pause button . The fed did absolutely nothing. Yesterdays news was just a repeat of what they said six weeks ago. The markets broke six weeks ago, rallied all the way back, and now were up against a resistance level, which i would think would be a much better selling point, but the overall fanfare and buildu
New Federal Reserve chair janet yellen due to weather. And, even the stock market appears to have hit the pause button. Stocks and commodities staged muted action wednesday. Following yesterdays wild rally. In earnings after hours. Cisco shares fell 4 . Cisco topped on earnings but cutting its sales outlook. Whole foods stock fell 6 in heavy trading after slicing its full year outlook. A shakeup at verizon will effect 3,000 workers. They will be shifted around to different jobs and offices as verizon reorganizes. Bloomberg new reports time warner and apple are in talks about a tv device and sears is offering Online Shoppers curbside pick up while they wait in their cars. Todd horwitz of average joe options joins us on the show today. Good to see your smiling face. Whats up. Its been a great year so far for the stock market. I know a lot of traders are watching whats happening in washington. We finally got this debt deal done. What do you think is likely to happen with the stock market
Down its march to 14,000. Traders and investors took money off the table as gdp came in weaker than expected for the 4th quarter. Instead they put money into gold and oil. Facebooks wild night shares initially dropped 10 on earnings that topped wall streets expectations, then turned around and rallied back with a gain. As lawmakers consider gun laws, the nra reports membership is up a half million people, and the campaign to prevent gun violence reports recently raising 5 million. And Time Magazine plans to get lean. The company is cutting 500 jobs worldwide, to become more nimble. Ben lichtenstein of tradersaudio. Com joins us for a closer look at the market today. Ben, how rattled are traders behind the scenes over the latest gdp number . For the most part not really. Initial reaction to the number was extremely limited this morning. Again, slightly lower, not much of a concern. One thing traders were talking about is the second lower number are we in a recession . What about the fed
Expectations. This stock will defintly be in focus today. In yesterdays trading action, the dow fell 26 points. A troubled outlook from caterpillar led the downfall. The nasdaq eeked out a one point gain, but apple was a big winner on the day with a 5 jump off of earnings. And the s p pulled back 6 points. Gold was off by 13, and oil lost 1. 91. In earnings afterhours last night, qualcom topped analysts targets with a 35 increase in revenue. Shares rose nearly 3 dollars in late trading. What better way to start your day than with a guy in a cow jacket . Scott shellady of treon group joins us now. Good morning, good to see you back on the show. Good morning. What trends do you see in the market right now . I think the one that were paying most attention to and focused on is were getting a little bit nervous about the consumer. The consumer has really been the one who lifted us out of the problems that were in right now, and i think thats slowing. Usually we can count on them to be growi
They were all minor. After firing the man who founded the company, groupon is on the hunt for its next ceo. Bloomberg is reporting that the board has decided to look outside the company. Sources say a search firm could be given the task within two weeks and will be expected to find a new chief executive within six months. Some say it cannot be done without a lot of pain, but congressman paul ryan says the budget he will reveal next week will essentially be what the house approved last year. But the house plan would balance the budget in 30 years. He says his can do it in 10. Lets make some sense as to what we can see in trading today. Lets talk with todd horwtiz. He is the chief strategist for the adam mesh trading group. Todd, the markets closed yesterday yeah, another dow record, but it didnt quite have the vigor that we saw on monday. Are we running out of steam here . Good morning. Yeah, it looks to be the market, although making a new high, we see a lot of problems. We see a probl