Ownership, its coming down to just one number. Well tell what you it is and what it means. Lets check in with sara at the nyse. High, sara. Good afternoon. Hard to believe just two more months remaining until 2015 is done. Just about 50 trading days left in the year. Are we setting up for presents under the tree or coal in our stockin stockings . Dominic chu is taking a closer look at that question. Dom . Sara, how many times have we talked about seasonality in the markets over our years together here. But lets take a look at this, everyone talks about the santa claus rally and the seasonably strong Fourth Quarter for stocks. Well, lets take a look. Our data partners at kensho crunched the numbers and for the last two months of any year over the last ten years, so november to december returns, the s p is up on average over 1. 5 . The dow the same, and theyve both been positive in 8 of the last 10 instances. A decentsized gain although some would point out because of the strong gains we
Welcome. Youre watching the pulse live from bloombergs European Headquarters. Were here in london. Im guy johnson. Im francine lacqua. It was a beat for barclays. An extra 750 Million Pounds were set aside for the currency probe. Anthony jenkins spokes to us first. This comes back to how do you reshape a beast . Do you cut off the legs . Do you cut off the head . What do you do . Jenkins is trying to put his stamp on this bank. He is dealing with expenses. He is dealing with legacy issues. When it comes to Foreign Exchange, that is a perennial issue. He didnt settle before christmas where he would have got a discount for doing so with a number of regulators. My question is should you gone with the rest of the crowd and taken that hit a little bit earlier. Did he make a mistake . He was quite optimistic though on the overall performance. We are required to provide what we can reasonably estimate at this time. I cant completely say that will be the end of the Foreign Exchange version, th
Cisco beat expectations. John chambers did talk to cramer last night. Jc penney narrowing losses but the news not great for kohls. Shake shack beating expectations with a nice profit. Cisco revenue coming in at 12. 1 billion 5 year offer year. Here is what John Chambers told jim last night on mad money. Our company is the most excessive position ever. We moved from selling boxes to outcomes. Youre digitizing every Company Every country. You change or disrupt or get left behind. Cisco is the lead player. You saw that in our quarter and balance and the Public Sector business was up 6 to 7 . So was our commercial and enterprise. Youll see sus change that. Routers up 6, switchers up 4. He came out swinging a way ive never seen him including an analyst who doubted the term. He shot down competitors saying there is disarray in the industry. This guy is disrupting the disruptors. He says hp alcatel, lucent, all which were considered to be competitive have been left behind. Robins is getting a
Technology hard hit today. One of the Leadership Groups on the downside. 3770 on the nasdaq. S p 500 down 14 points, almost 1 lower, at 1676. The dow and the s p extending the weeks losses. Bob pisani, it got bad at the end. What happened from your standpoint . The volume picked up a little bit. We talked about how complacent the markets have been. It was interesting to see this drift lower here at the close. Particularly with the vix moving well up over 19. Lets take a look at the s p. 1674 was the low right after the market opened. We went up maybe 1684 in the middle of the day. And pretty steady. And then just in the last 25 minutes or so, drifted lower. Were only two points above the lows for the day. Thats pretty good on an intraday basis. Take a look at economic sensitive. Cyclicals were generally weaker. Footbal financials were a notable weakness, as well as financial stocks. I asked, why is abercrombie down, macys, gap down. I didnt hear anything in particular will what Retail
We are getting manufacturing data out from the eurozone. We have seen a series of numbers coming out already this morning and we are waiting for the final number. 52. 7 is the number. The french number was weak, wasnt it . It came in at 47. German 54. 3. Areas of the periphery that had been weak in the past, such as spain actually strengthening. That was against a 48. 6 reading in november. Turning around, the spanish number. Later on the program, well speak to unicredit about the Oreign Exchange story. Fiat shares are surging this morning. They agreed to buy the remaining stake in chrysler it already doesnt own. It gives them full ownership of the u. S. Automaker. Ryan chilcote joins us with more. Marchionne finally gets the deal he was looking for. The stock is up more than 15 . You have to go back to april 2009 to see that kind of share price increase. Really extraordinary. Worth mentioning the Italian Stock Exchange has an upper limit of 10 . They waved it. Investors seem to like i