Dow having a pretty good day. Its the Big Industrial names that would be more impacted by an economic slowdown of any sort of magnitude. Intel is holding up today ahead of the earnings. Chips killed lately. Those are the next best performers out of the dow today. I would suggest thats much more important than a chevron which is towards the low end sliding on oil. United health is a Big Hedge Fund trade and maybe selling there. Cocacola, staple. Home depot is a bad performer today and downgraded. Jpmorgan off the earnings. You raise the point and one the need talk about with the group coming up here but to what extent is pressure on the hedge funds writ large responsible for some of the market declines we have been seeing . I looked this morning and you saw even in the face of an up market that a lot of the most Popular Hedge Fund names were down and suggested they were selling the name and when the overall market bounced they got a bounce, too. Remember yesterday things looked decent a
Overnight in shanghai down almost 4 as the yuan sits near a sixmonth low. The roadmap begins with the markets, the s p starting off shy of the fresh record high and the nasdaq beginning from right around its highest level in 14 years. Home depot is posting quarterly profit above expectations and boosted dividend. Different story with macys and shares slipping after same store sales came in below expectations. And jpmorgan expected to announce job cuts in its mortgage and consumer business. The bulls off to a good start, the dow jumped more than 100 points and closed at 16,207 and the s p hit 1858 before pulling back and closing at 1847. Thats a point away from its alltime closing high. And as we said, the nasdaq reaching a 14year high before closing off its best levels. Jim, you said last night you would try to play the role of the skeptic. I do not like to see the nasdaq at a 14year high. I took to heart some of the comments we said on yesterdays show which is when you Start Talking w
In many ways that was the story yesterday. That incredible drop in Interest Rates we saw falling below 2 briefly. 2. 047 . Again, crude oil almost 25 off the highs of june, i believe it was. Wow. These are two stories favorable for consumers, even though we did get that retail number that got people scared. What is that about this positive spin . Mortgage rates and gasoline prices are important things. They both are coming down sharply when it comes to the consumer. Jobless claims today. Jobless claims are amazing. 1 trillion cut for the consumer in oil. Refis. A tremendous number of people at 5 that can refi and a tremendous disease that can kill people in our country. And fear moves markets. That fear may be real but not necessarily rational . I think when the government creates confidence, its not rational. I think the government created a lack of confidence in its response. How much will the market move . Yesterday we had so many Different Reasons we can cite. How much is related t
Friday . Are wearing white sneakers. Usually he wears shoes with matching shoelaces for his tie. But today you have sneakers on. That is how we know it is friday. There they are. There they are. Lets get to the stories from around the world. Chiquita is rejecting an unsolicited takeover bid. Chiquita will stick with its planned purchase of an average competitor price. Credit card data may have been stolen from june to july at supervalu. Car that wentc for a classic price. A 1962 ferrari sold for more than 38 million. That is the most a car has ever sold for at auction. No word so far on who bought it. That is a really good looking car. You have just gotten your roadmap and lesson plan. It is 13 f season, where we learn what Hedge Fund Managers bought and sold last quarter. Julie hyman has been digging through the filings. Mind our to wrap your around all of these buying and selling from Hedge Fund Managers. It is always interesting to start with apple and see what they are doing with t
Plan. Another repeat of the old. Youre not happy. New figures have shown more workplace dropouts than new jobs and the latest poll show six out of ten think were on the wrong track. Not much joy on the market unless you own a piece of facebook. Were talking a stock price surge. Ive never seen anything like this from a big name company. Its going straight up. And you will see it. Varney company is about to begin. With fidelitys options platform, weve completely integrated every step of the press, making it easier to tr filters and strategies. To get a list of equity options. Evaluate them with our p l calculator. And execute faster witour more intuitive trade ticket. Im greg stevens, and i helped create fidelitys options platform. Its one more innovative reason serious investors are choosing fidelity. Now get 200 free trades when you open an account. Right out of the box. Look at this. This stock, facebook, will be the stock of the day. The week, maybe the month, maybe the year. And do