Are you going to sell stocks hand over fist every time you see weaker china data . Are you going to panic whenever the s p futures are down huge overnight, as people did most of the day today, just as they did last tuesday afternoon at this time before one of the biggest rallies ive ever seen. Or will you decide to care more about the United States than china given we live in the United States, not china. And the two are very different despite the prevailing wisdom if things are horrendous in the peoples republic, dont they have to be every bit as horrendous here . That was certainly the assumption behind much of todays decline. Dow plunging 474 points, s p plummeting 2. 96 , nasdaq nose diving. Lets take everything was weak. Regular viewers know, you know that i keep a copy of wednesday october 4, 2011 of the wall street journal on my desk. Its an important day and an important front page. So important when my youngest daughter was cleaning up my office last month, something im foreve
We have no plans to slow down. Our goal is to bring you access to many of the biggest news makers in attendance. Steven schwarzman will be joining us in a few minutes. We have three big stories were watching. Earnings season is in full swing. Then this afternoon, american express, ebay and Discovery Financial and december Housing Starts and Building Permits at 8 30 eastern time. Both ratings are expected to rise by a percent and a debate is stirring after the state of the union last night. The economy the big focus. The president calling for tax hikes on the wealthy to finance tax breaks for the middle class. So the verdict is clear. Middle class economic works. Expanding opportunity works. And these policies will continue to work as long as politics dont get in the way. We cant slow down businesses or put our economy at risk with government shutdowns or fiscal show downs. We cant put the security of families at risk by taking away their Health Insurance or unraveling the new rules on
Attacks on u. S. Banks have been struck in a series of coordinated attack these mop details at the moment, unclear. But the attackers are believed to have stolen large quantities of data, including information on checking and savings accounts. Theyre looking into the possibility that Russian Hackers are behind those attacks. There were other reports that suggested they had gotten employee information, joe. One of the things i wonder more than anything else about this, beyond my own security, im a customer, by the way, of chats. I dont know what banks you frequent, but these are reports coming from sources that are close to this investigation, whether they be government sources or bank sources. The banks themselves have not publicly disclosed this. And the question i always wonder is we talked about this on the air before. When if you are a company are you supposed to disclose that there has been a hacking attack . Clearly this has happened at least over the past several weeks and we he
Stocks. That way you can be ready for days like today, where the market flies, with the dow soaring 212 points, and the nasdaq climbing 0. 13 . Go back and think about yesterdays Late Afternoon pummeling. Or at least try to remember what caused it. Some European Central banker arguing with some greek politician. That kerfuffle gave you a chance to pick up Great American stocks at prices much cheaper than you otherwise would have gotten. We all get flyers in the mail with coupons. I get ones from costco. Im eyeing this 60inch tv for 1,300 bucks. But lets say i go in and pick it up and see these shirts that are on sale for 35 smackers. Thats ridiculous. I see that sale and i have to buy those shirts. I dont say, wait they lowered the price because somethings wrong with the merchandise. I dont think, wow, zainya i cant pick those up because tomorrow they might be worth even less. No, i think, ive discovered a sale i wasnt even counting on. Next thing you know im buying the tv and the shir
Banning mr. Sterling for life for Many Association with the Clippers Organization for the nba. He is banned for life. This comes after those racist comments he allegedly made in a phone conversation. Were getting reaction from a former New York Knicks are start. From the conference in los angeles come we will be joined by the former italian Prime Minister. All that is coming up in todays edition. The stocks were watching as we head into the close, julie hyman is keeping an eye on them for us. Christ lets take a look at technology. That is the leading group today. Yahoo is among the best performance in tech today. The companys socalled some of the evaluation, that is, if you a look at ali baba stake and yahoo japan, it is worth more than where it is training now trading now. Yahoo also said it would be debuting a couple of original video shows on its website to drive scribers and traffic. That could also be giving a boost. Out with this numbers and showed better than expected and lost f