S p 500 essentially flat year to date nasdaq up some 19 59 minutes left in the session, sara coming up on this friday afternoon, weve got a series of great gifts for you. Red finns stock was on fire the stock selling to have day on the companys cautious outlook as the ceo says the bottom codrp out on the economy were going to talk to glenn kelman in a few minutes. And then apple once again, the Biggest Public Company in the world, surpassing saudi ramco. Continuing the historic run. The market cap now sitting above 1. 8 trillion. Its up over 8. 25 well talk about what an investor should do with this stock next lets focus in on the big stories that were watching. Mike santoli looking at the market and the tech stocks surging to day kayla is looking over the next stimulus package first to you, mike. The story from the morning was that Great Results from the big four of tech did not really lift all votes did you have weakness. Sold a strong open the market firmed up in the last hour or so
Falling back below 2 . As i said, the s p 500s essentially flat at this moment. The dows just lower the nasdaq down 0. 1 the russell looks down a full percent as regional banks down almost 2 . Joining us for the hour today to break down the Market Action is steve grasso from stuart frankel. Great to have you with us. Good to be here whats your take on this sort of softish session only a day or so after great positive trade news . You have a holiday week, so you have a shortened, abbreviated week you have people looking for either you had a rebalance on friday, you had end of quarter, end of month, end of week. People are starting to take a big, deep breath in. Seeing where they want to reassess, and and redistribute their Equity Holdings its all about the fed people are on fed watch right now. Thats really the only thing that is taking up the brain of a lot of the Market Participants right now. Even though trade is all over the headlines, its still fed. Fed still cut, but the trade tru
away from 20% of the highs, definition of a bear market. welcome. i m neil cavuto. this is your world. it was a selling world all this week amid concerns that inflation is rocketing, the fed is hiking rates and the economy could be slowing dramatically. its been so weird this week. because remember the reaction the markets had to news that jerome powell at the federal reserve was going to start aggressively hiking interest rates. a 75 basis point hike earlier this week. the highest since a fellow named bill clinton was in the oval office in 1994. that was then. concerns that he will have to do more of that right now. doesn t jackie deangelis know it. taking a look at the week that is now done. jackie? good afternoon, neil. even with this mixed picture at the close today, it was a sell button dominated wall street week. take a look at the major three averages. it was a sea of red. year to date, the markets have been pummeled. the dow and the s&p 50 oh sorry. the nasdaq a
Not moving it these days. Also fed chair janet yellen shes already required to appear before the house and senate twice each year to test a Monetary Policy. Apparently thats not enough. Coming up, House Financial Services Committee Chair Jeb Hensarling to explain why he wants to see her double her appearances on capitol hill. Hewlettpackard and gap, well have the incident analysis of all the numbers as soon as they are released. Both those sectors. Hewlettpackard has turned out some great numbers the last cup of quarters. Gap, retail been very mixed. And hewlettpackard. David faber will join us on that one as well after the bell. First, lets get right back to this market. The dow up 17. The s p adding six points. The nasdaq 20 points. The nasdaq by far the outperformer today. Lets get to our Closing Bell Exchange for this thursday. Joining us cnbc contributeor heather hughes. How are you . Good. James lu is with us here at the new york stock exchange. Joe duran from United Capital Fina
Well say why did you do this . Why would you ever . They never did catch the fell lo he that threatened glen kelman and we dont know what industry the bad guy worked in, but we can make an educated guess, it was real estate. Thats because kelmans company red fin is doing to Real Estate Agents what Online Travel sites did to travel agents. Red fin Real Estate Agents dont take the usual 6 commission, selling a home meaning a savings of tens of thousands of dollars. If youre buying a home, red fin takes its split from the selling agent, usually 3 , and gives you most of the money. Glen kelman is founder of red fin and serves as the ceo. The first job is worng at a roast beef Sandwich Shop washing dishes and tells the l. A. Times he spent his teen years smelling so much like roast beef his own dogs would attack him in his sleep. Now, we have some time, not a lot, but some time to talk about how youre disrupting the industry, and no matter how much time we give it, i dont think people will