This market can only focus on one bullish idea at a time. And it just feeds Everything Else to the hungry bears. Today the market decided that oil is going to the moon, because it did show a huge draw down. Actually, to be fair to the oil traders, it took crude up nearly 2, a reduction of 4. 5 million barrels. Its the second biggest in hist this reduction is amazing. No one saw it coming. Weve heard over and over and over again that theres way too much oil, so theres a gigantic glut. Every now and then, some combination of countries had decided that oils fallen enough. You hear chatter about an emergency opec meeting or two takes it from the low 40s to the high 40s. Before a new flood of american oil hits the market. Those past rallies were all big con jobs. But Oil Inventories are not a con job. This number tells us that the reports that theres no more room to store oil may be greatly exaggerated. Reports that were overrun with imports may be untrue. What happens . The whole oil compl
This market can only focus on one bullish idea at a time. And it just feeds Everything Else to the hungry bears. Today the market decided that oil is going to the moon, because it did show a huge draw down. Actually, to be fair to the oil traders, it took crude up nearly 2, a reduction of 4. 5 million barrels. Its the second biggest in this reduction is amazing. No one saw it coming. Weve heard over and over and over again that theres way too much oil, so theres a gigantic glut. Every now and then, some combination of countries had decided that oils fallen enough. You hear chatter about an takes it from the low 40s to the high 40s. Before a new flood of american oil hits the market. Those past rallies were all big con jobs. But Oil Inventories are not a con job. This number tells us that the reports that theres no more room to store oil may be greatly exaggerated. Reports that were overrun with imports may nt be possible. What happens . The whole oil complex goes completely nutty as is
Stop there. Shares of costco under pressure taking target and walmart along with it and another bad day for the grocer. Super value falling 9 after it slashed its fullyear outlook following guidance cut yesterday. What the are these stocks telling us about the consumer . Brian kell . Well, listen, this started back back in december of last year when we had automation. Mike jackson was on cnbc talking about the fact that auto sales were falling. Thats a leading indicator. Thats happened over the First Six Months and now youre starting to see it into retail. Youre starting to see it in macys and all of that. Maybe its for Rising Oil Prices, maybe not. For me to the big macro picture last friday with the jobs report one thing that wasnt so great about that. That was average hourly hours worked per week. Thats been dropping. Its dropped about 1 . That means people have 1 less money in their pocket on average. Hold hon. The last time that we saw that was right before the 2008 recession. Wel
And fed chair janet yellen said caution and rising rates is warranted raising rates, i should say and take a look at the riskon moves. Biotech and small caps seeing huge gains on the day so with free money seemingly now forever, what do you do with your portfolio now. Tim, why dont you kick it off. Mere mortals dont mess with Central Banks, thats the message and what janet yellen said not only are we worried about whats going on around the world we might be worried about u. S. Corporate profits, good idea and were worried about that as well and when you get down to it the pressure that comes off the dollar, brian has an interesting chart later hon in the show and things that were sold off on the back of a strong dollar, and i would argue that started back in july of 2014. They are things that can continue to rally, but, im not someone thats saying you should chase into this rally right here. In fact, i think weve had a 14 run off the floor on the s p. Not advocating jumping in and buyi
It is positive. Nine days of the last ten trading sessions. S p 500 also on track to close at a record high for the 52nd high in 2014 and nasdaq just turned positive for the month of december. And is trading around the highest level since back in 2000 and a close eye on the russell 2000. The index of small caps trying to close at a new high. We are seeing intraday records for the First Time Since june. If it does close at a record, thats the First Time Since back in march. And just think last october it was down as much as 20 from that march 4th high. Talk about a round trip for the small caps index. Incredible rebound. Talk about it with the guests today in the exchange. We have rob morgan with us. Jim lowell. Nicole sinclair. And our own jeff cox from cnbc. Com. We have trader Matt Cheslock and, matthew, ill start with you. What do you make of whens going on right now. Back at alltime highs including those small caps that were hit so hard through much of this year. Yeah, well, time t