Records. The dow 28,000 thanks to optimism on a trade deal, ral in Health Care Stocks and uppete report on retail sales, an indication the consumer which has been powering the economys still strong. Here arenghe clo numbers. The Dow Jones Industrial average rose 222 points, to4. 2800 the nasdaq up 61 and the s p 500 added23. The sixth straight weekly gain for the s p 500. The longest win streak for that index since 2017. Bob pisani takes a look at what to make of the bullishness. Another day of record highs. The s p broke out of therading range into record territory, universityia is growing and pretty fast frankly. A number of technicians have but notust the chartists ently feeling good about the trends. Eventrategistnd everyday Retail Investors are getting gunning hoe on the market. Barclays for example s that small caps are at a turning d point and poio outperform. Morgan stanley also saying a key rotation from Growth Stocks to value stocks is beginning. Even the average Retail Inves
The dow had been up about 1. 6 , on pace for its best day of the year, nonetheless up 1. 2 now. 500 up a 10th of a percent, both indexes with record highs. Yesterday,down 1. 3 rebounding nicely today as investors are buying mthe dip on the confidence of the mentality that we have seen some much this year. Take a look at the dow. Something else happening. Earlier, when it was up 1. 6 , and it had been the best day of the year, at this point the secondbest extending all the way back to february. After the election we had lots of big rally days, that was one of those days. A very strong day for the doubt and again of the five days in a row. And lets take a look at some of the stocks helping the s p 500. Kroger up 7. 5 . Earlier, up more than 10 . Their best day since 1993. Very positive. They put up a Strong Quarter and they beat earnings by 11 and comps rose. Everybody thought that kroger would be decimated by amazon, but they are doing with a do best, selling groceries and investors the
If Kayla Tausche is at the nyse to tell us whats happening on the floor. Stocks for the dow and s p are in the red right now. The dow having its nay rowest trading range today since august 18th. The nasdaq has been flirting with the flat line for the last hour. It is just slightly into positive territory. The dow, the s p and nasdaq though even with todays trade all remain out of correction territory. Lets get the trading action at the nyse. Bob pisani joins me on the floor. Michelles getting ready to go on vacation, a lot of other traders are and very happy to be a somewhat normal august day here. The s p 500, very narrow trading range. Only 13 points. Got a little droop in the middle of the day. Stan fischer speaking exclusively with Steve Leisman. Some interpret him to be a little more hawkish. I didnt hear it but the markets seemed to react that way. Down just a little bit. Very narrow trading range, 13, 14point bottom to the top. Volume is heavy but declining. Heavy for august but
Bloombergs chief washington correspondent, kevin cirilli, on capitol hill. The opportunity to pass a bill without the democrats did outweigh the complaints that some lawmakers had. Complaints, most notably from republicans in states like california and new york over exemptions to the state and local tax production still will not seemingly be enough to block tax legislation built when it comes to the floor. The budget in the house of representatives on a 216to 12 margin with five members abstaining. Is not enough for them to, should they form a coalition, to block any type of tax reform bill once it is brought to the forefront. Things could get interesting during the public hearings. Within the last hour, weve heard all right jokingly suggest that when they do unveil their tax plan on november 1, President Trump will be overseas in asia. Markup is slated as of now for november 6, one week away from monday. One a listen to what republican representative had to say about what he is holdin
Opec production report. Our road map begins with the snow coming down. States of emergency declared in new york, new jersey, pennsylvania, connecticut. Well take you live to the worst of the storm. Bill ackma th sells out of valeant, a 4 million loss. The Congressional Budget Office out with its assessment of the Republican Health care plan, saying millions will lose coverage. Well dig in on the report. First up, states of emergency declared in several states as the winter storm hammers the northeast. Already a foot of snow in parts of the region. More than 8,000 flights have been cancelled this week due to the storm impacting more than 400,000 passengers. Jim, were going to see what the impact is on the airlines. I think right now, i saw a map a few moments ago, there are only eight inbound flights to new york on the entire globe. Yeah. Look, i know we had a good report this morning, talking about whether there was how badly the quarters will be. You know, im very concerned. This grou