Were modest but after 3 days of heavy selling all 3 major indices were up yesterday. Gold is back above 13hundres an ounce and oil jumped by 2. 06. Two companies ipo today. La quinta hotel chain and chinese Preventative Health care company ikang. Cvs will pay 20 Million Dollars in a settlement with the sec for allegedly concealing its financial losses from investors. And gm reportedly is fined 7,000 per day since april 3rd for failing to answer certain quesitons about its ignition switch recall to the naitonal highway Traffic Safety administration. Larry shover of sfg alternatives joins us now from the trading floor. Whats your reaction to the alcoa earnings numbers . I was very impressed when yesterday it beat by 4 cents. Havent seen that out of alcoa in a long time. Largely due to the alliances theyve built with boeing and ford thats really helping the company. Going forward it might be difficultthese Aluminum Prices continue to dwindle and as we know alcoa depends on a high aluminum
Stock split and that it would greatly increase its stock buyback plan. Its shares took off in after hours trading. But not so for the overall market. A setback in ukraine negative Economic Data set off a slight selloff yesterday for the first time this week the main indexes were all down. For the 1st time in 4 trading sessions gold closed higher by 4 dollars. Oil slipped 31 cents. In photo ops and meetings president obama is making the rounds in south east asia. For the past two days hes been in japan. He wants to reassure the japanese the us is committed to to protecting their economic and National Security interests. In the course of the next week he will also visit south korea, malaysia and the phillipines. And a small side bar item. Its take your kids to work day, so take them along and show em what you do all day when youre away from home. Our trader today is phillip streible,he s with rjo futures. Let me talk commodities. Thats your specialty after all. Wasnt oil just 104 a barre
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Is moving on the conflict. Tuesday, the 10 year note yield fell more than 1 as treasury prices rose. The stock market however, shook off the news. And turned a sell off into a rally. The dow gained 90 points, the nasdaq 11 and the s p 12. Gold futures plunged 25 dollars. And oil inched 49 cents lower. Yahoo is growing for the first time in a more than a year. In earnings after hours the Internet Company beat on earnings and revenue. Shares rallied more than 7 . And save the date. Hotels in vegas reportedly are bracing for couples who want to wed on 12 13 14. The 13th in case you are wondering is a saturday. Time now for some trader talk with Mark Sebastian leading the way. He is with swann wealth advisers. Good morning, mark. Good morning. Whats going on with this market . Theres unrest in the ukraine and yet we have not seen a big move to the downside with the stock market. Yeah, you know, i think ukraine is holding up underlying volatility. So i feel like the vix insurance prices are
A 6 day winning streak its longest in 7 months. The nasdaq was especially strong, rising nearly 1 percent. Commodities were red. Oil fell more than 2 dollars a barrel and gold futures notching a 3rd straight day of losses. Netflix flexed its market muscle. Its shares took off after reporting earnings. Its numbers easily beat the street in expectations. The company is signing up subscribers and its announcement that fees would modestly rise for new customers was welcomed by investors. Owners of Harley Davidson shares were feeding at the trough of profits. Ticker symbol hog, its shares popped a wheelie after a strong Earnings Report First Quarter earnings were up almost 19 percent on strong sales. Where are most of its buyers . Asia, especially china where owning an american harley is a distinctive mark of status. Our trader today is todd horwitz, with avg. Joe options. Todd, let me ask you about mcdonalds didnt hit its numbers, market didnt seem to care, whats going on . Good morning bi