Shortly after ben bernanke wrapped up his speech. We will get into exactly what he said in a minute. But the homebuilders seem to be kind of impervious to all things bernanke. Gains across the board thanks to strong data on Housing Starts and permits that came out today. They looked pretty good. Oil, though, taking the spill listen, up 2 yesterday. Down more than 2 today. Traders heading for the exits on word and its only word that there may be a ceasefire in all of the tension in the gaza strip. Over the past week, fighting between the israelis and hamas, rockets along the gaza strip, its continue to escalate. Its caused oil prices to spike in fear of supply shortage. Word on the ceasefire reversing those moves today. Again you are hearing signs from both sides, who said ceasefire . Who said that . Its just a word. It might be premature. Lets get to the floor show with traders at the New York Stock Exchange cme group and the nymex. We should start with Elliot Warren who is at the nyme
For pretty much all of the session for the blue chips. Money flowing into financials. Citigroup is jumping. Of nearly 6 . The story there, job cuts. 11,000 of them. Leading to a billion dollars in savings. Additional layoffs somewhere else down the line. Investors are getting this move a thumbs up. We know it is tough for employees. The stock is up more than 7 today. Bank of america, as you see, moving higher. The biggest gainer on the dow. Jpmorgan solidly in the green. A totally different story at the nasdaq. Down on the session. Apple getting a 5 haircut at the moment. Just under 5 . Perhaps tied to the apple, samsung dispute. There is a big Court Hearing tomorrow. Samsung is expected to ask the judge for a brandnew trial. Apple down 22 from its september highs. Right around the time where the iphone5 with release. The markets showing more conviction today. Lets get right to the floor show. I rub, in chicago, i want to start with you. Very shallow moves up and down. We are getting c
Protesting president morsis decree to express its powers. Despite there, there was a nice pop, a move of 31 cents, about 2. 5 . It tracks Egyptian Companies that trade in egypt. David egypt, the fiscal cliff, so much uncertainty. Where do you put your money . Go to the big caps. Look at the winners among the big cats. Not huge, but this is where people are puttinggtheir money. They want it in safety. They are not putting it in gold. If you have to be in the market, go to the big cats. Thats whats happening. Liz president obama discussing the fiscal cliff, and, plus, speaking live to the iowa governor, his state facing a double whammy if we go over the cliff. What compromises hed love to see come out of washington, and how he believes they could reach them. This is a guy who deals with the Democratic Senate, so, really, he knows how to cross the aisle to make it happen. David somebody else you know about, with all the talk about tax increases, the idea of a simple flat tax dead . Well s
Nicole this is one of those markets with a lot of anticipation. Every focuses on the fiscal cliff. Tomorrow is the allimportant jobs report for a lot of folks have been hearing more Economic News which has been more dismal lately. Talk about more layoffs they have seen in november. Right now the market is not too far off the unchanged line. The acidity holding 1400. The tech of the nasdaq still below 3000. Today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. Apple 700, 705 in september traded as low as 518 today. Certainly has been under significant pressure, however people use that as a buying opportunity which is evidenced in the twoday chart. With the fiscal cliff fast approaching, naturally its about time lawmakers took a long recess. Theyre gone today, but will be back tuesday. It meets with Small Businesses in their district, they will highlight what they say i see ae Small Business tax hike president obama is pus
The precious metal bouncing back into the green. It does touch one month lows in trading but todays game was not enough to make of earlier losses gold finishing the week 1 lower. It is still just above 1700, 1,705. 70 for one ounce. Technology worst performing sector. Many social media stocks of bucking that trend. Yelp, facebook, zynga and groupon up 23 . Dave facebook pushing close to 30. A lot of people happy about that. Michigan lawmakers passing right to work bills despite protests. A longtime supporter of right to work was, Michigan State senator is here with the inside story behind the move that took a lot of folks by surprise. Right to work in michigan, the home of the united autoworkers. The stakes are changing. We will talk to him coming the. Oppenheimer fund economist Brian Leverett on the 6040 portfolio. He says it will bring you profits beyond the fiscal cliff. Dave an exciting our coming up. We will tell you what drove the markets today with todays data download. Of next