The biggest gainer is the qqq, the nasdaq etf. China with an aggressive move allowing more flexibility. It is soars today, as you would imagine, up more than 4 . Bob, its a good rally, but were not quite getting back what we lost on friday right . But if youre not confused about the action the last couple days i dont think youre paying attention. We are down 280 points on friday. At one point today we were almost on the verge of getting it all back. Put up that twoday chart. Were basically almost back to where we were. Lets not quibble. The point is whats going on . Why is this happening . Ive asked many traders this morning how to explain the last two days. No alternatives to stocks bob. Theres no reason they should have been down on friday. Chinas going to stimulate other people are saying bob, its an illusion. No matter what its true i think mand,is right, china has been sending some mixed signals recently. By the same time on friday they came out and banned margin financing, theyre
Big headwinds facing the market, and the Obama Administration saying it is ready to act in syria if needed. Secretary jack lew on squawk saying moments ago the president will not negotiate over the debt ceiling. Good news for tiffany, and luxury, in that it was boosted by sales in china. And the end of the era, bill ackman is bailing on jcpenney, and they are looki in ing to ses shares. And we will look at the new home sales to be released. Treasury secretary jack lew telling our own john harwood that the president will not e negotiate over the debt limit which could be reached in midoctob midoctober. Take a listen. We wont be negotiating over the debt ceiling and congress has authorized funding and committed to expenditures and now the question is do we pay the bills that the United States has incurred. It is the only way for that to do is for congress the act and act quickly. What we need in the economy is certainlity, and we dont need a selfinflicted wound or crisis at the last minu