Sue herera is off tonight. Well, door busters for stocks on this black friday, consumer were out shopping for bargains while investors returned from thanksgiving to buy up equities. The dow, the s p 500, the nasdaq and even the small cap russell 2000 all closed at records. Extending the rally seen since election day. Stocks have risen sharply on expectations that the president elect will cut taxes, redu reduce regulations and spend heavily on infrastructure. Today, the dow industrial average rose to 19,152. The index closed at a record every trading day this week. The nasdaq added 18. S p 500 was up eight. And the major indexes saw their Third Straight week of gains. About 1 57b9. 5 . The old cliche is that the markets hate uncertain thety. Trumps election removed some of that, but the markets power fu raply since november th is built on a lot of promises and campaign intentions often improve hard to achieve, so, our stock, pricing in too much anticipation right now. Here to discuss is
Sue herera is off tonight. Well, door busters for stocks on this black friday, consumer were out shopping for bargains while investors returned from thanksgiving to buy up equities. The dow, the s p 500, the nasdaq and even the small cap russell 2000 all closed at records. Extending the rally seen since election day. Stocks have risen sharply on expectations that the president elect will cut taxes, redu reduce regulations and spend heavily on infrastructure. Today, the dow industrial average rose to 19,152. The index closed at a record every trading day this week. The nasdaq added 18. S p 500 was up eight. And the major indexes saw their Third Straight week of gains. About 1 57b9. 5 . The old cliche is that the markets hate uncertain thety. Trumps election removed some of that, but the markets power fu raply since november th is built on a lot of promises and campaign intentions often improve hard to achieve, so, our stock, pricing in too much anticipation right now. Here to discuss is
Oil is back below 48. Our roadmap begins with more volatility after last weeks postbrexit rally easing capital requirements. Plus, tesla deliveries come up short. The stock is down 4 . And the u. S. Are passing sued i arabia and russia in oil reserves, and falling below 50 even in the wake of those terrorist attacks in saudi arabia. Both oil stocks and futures moving slower than Economic Growth after the u. S. Equity markets posted their best weekly of the year. The dow and the s p gained 3 . Last week we used the term roller coaster a lot. And i dont know if you noticed, europe is having a banking crisis. Ground zero is italy, theyve had some issues again with month i depashi, and theyre not dramatically lower, and the situation and what triheyre gog to do with the recapitalization. They could hurt a lot of individual bond holders. Crisis is the right word . Italy is having a banking crisis. Many of their banks are bankrupt. The question is how. January 1, all the rules change. You ha
How this all plays into the Federal Reserve. I like jims point there in Halftime Report which is if they dont move in september, were goi in december, were going to drive ourselves in sane. This is right in the sweet spot of the feds full employment number. Maybe that number is going to come down but right now theyre between 5 and 5. 2 . Over to the 173, thats the payroll number for august. Thats below the 220,000 that was forecast but several economists, many economists, point out august has been consistently revised higher. The most revised month of the past five years. You by 75,000. We also have positive revisions and a wage number that was a little bit higher than expectations. Some of the calls made expost after the number came out. Wells fargo, ubs, bank of tokyo, all affirming or saying they are in the september camp for Federal Reserve raising rates. With. September, there are good names over here in december. All these in the december camp. Quickly some of the arguments. Reas
To intervene with his country right now and that seems to have taken the wind out of the sails. The dow was up 125 points at its peak today, and now up just 27, and the nasdaq has turned negative. The s p 500 in danger of reversing as well. Well keep an eye on that closely. Yesterday we put in the new closing high for the s p 500 at 1848. Today it looks that could be called into question. Of course, the nasdaq, and this, bill, will be the question, was losing some steam even before this round biotech was pulling back. All of that well get into. If 2013 was the year of the activist investor, is 2014 the year theyre overplaying their hand . Theres been pushback against the likes of carl icahn and nelson peltz. Sometimes even blistering public criticism. Now a battle with Darden Restaurants. We will have a special report coming up. Its very, very intriguing. Then a new report that shows employees of the s. E. C. , the securities and exchange commission, you know, the regulator of the stoc