Donald trump. Theres a sense of optimism about stocks, and that optimism seems to extend to both republicans and democrats. Whether you love him or hate him, people are clearly buying stocks the way they used to before stocks became persona nongrata when it came to places where to your money. Magic wand was waved that removed the gloom, busted it, and its being transmuted into higher prices even without any facts behind this move other than the kind of throw the bums out logic that you get whenever the white house changes handing from one party to the other. But heres whats hard to argue with. Many of the biggest moves ive seen in my career started without any apparent basis in the facts. Prominent examples from my 36 years of investing. First was when Ronald Reagan was elected to the white house in 1980. Optimism ensued which coincided with the end of the great bear market in bonds, one that saw Interest Rates climb all the way to 14 . Now, at the time few on wall street believed that
It is slow. Lots of slow traffic rolling in and no big problems, just a lot of commuter traffic squeezing through. Through the maze, 580 back and if your approach is 80 west, it is jammed up out of oakland, approaching 80 west. Under 20 minutes to fremont street and i will let you know if it gets worse and i will have a complete check in a few minutes. Breaking news were following overnight. Haiti is battered by strong winds and rain from Hurricane Matthew. A major hurricane moving over the area and it could be going to the east coast of florida. It is intense, as you see on this latest view and you see how strong the wind is as you get closer to the eye of the hurricane. You see the preds and you will get into this black coloring. 145 mileperhour winds, category 4 hurricane with a lot of flooding and evacuations, as a result of Hurricane Matthew has claimed the lives of three people. The center of the storm is over the southwestern tip of haiti with 40 inches of rain expected in some
This thursday morning. Somebody flicked the switch at the fed, from the most dovish centralbank meeting of the 21st century, according to Goldman Sachs. The tone has changed. The rollcall of hawkish voices rolls on. Bullard questions the very validity of the dot. A cacophony of voices. Bullard, evans from chicago, lacquered from richard and lockhart. Market is beginning to be blindsided. They are necessarily underweight. Says, is a pimco currency risk. Goldman sachs, good old Goldman Sachs, will keep the dollar bulls happy. Goldman says, stop worrying. Value the dollar is already in the price. Lets see how the strength of the dollar is pervading across markets. You are seeing a dropout of some of the commodity plays. You have oil coming back off of its recent highs. Timesories are three what were projected. Volume study percent below the overall average. You are back below 40. The psychology of breaking markets. It into perspective for you, gold is at a onemonth low. Emerging markets a
Lets get to bob pisani on the floor of the New York Stock Exchange. This is what it sounds like when doves fly. Very good. That was a good song. The important thing about it is since yesterday, were up 1. 5 . The s p 500, we turn positive for the year. Lets look at what the markets are doing in the middle of the day. Brian is right. Were in a bullish situation now. Two to one advancing declining stocks. New highs are expanding 200 at the nyse. Volume is on the moderate side. Volatility, well, the vix is at new lows for the year essentially. So lets take a look at the s p 500, we are at highs for the year and, yes, thats only about up 1 . Well take that and most of those gains for the year have come just in the last 24 hours. Big caps, new highs, i mentioned some expansion of new highs and we have ge and coke and johnson and johnson, all names you know at new highs. United health. We track that on an intraday basis. Travelers also on the upside here. So most of the new highs recently ha
Million super pac to Push Congress to reform Corporate Tax. Lets check in on u. S. Futures. On this thursday morning we have a higher call from markets. The s p 500 the implied open is telling us well be up maybe two points. Dow jones industrials should be gaining by 20 points. Were pricing in close to 10. 5 points. Its a mixed picture out there. The ftse 100 here in the u. K. Were down. 5 . Meantime the german dax minimal games. The cac 40 in france not going anywhere and the ftse mib pretty flat. The follow through thate saw from the asia session. Lets take a look at individual stock movers and strg demand, yes, Strong Demand in europe and china boosting profits at daimler. Logging record sales in the Third Quarter driven by new model launches. We also have swiss pharma giant roche in the news after beating targets on the first nine months of this year. The ceo said he was positive on the companys drug pipeline in the future and publicis, the ad company is cutting its 2016 sales targ