Opened up 250 points. Its not that i want stocks to go lower. You know that. I just hate it when people buy stocks up huge and then get picked off by a gigantic move that should never have occurred. As the average gave up almost all of their gains, closing up 33 points. The s p climbing 3. 2 . Nasdaq advancing just 0. 62 . The severe retreat made much more sense to me than the up opening because it was based on nothing that has happened here. And therefore zero staying power during the day. I get upset when i see that were taking our cue from the chinese stock market. And when they rally, we open higher . Well, the sellers come in knowing they have been given a gift, the gift of higher prices for all stocks. A gift that is frankly undeserved. The only difference this time we had to be wear of chinese bearing gifts, not just the grifts. Its this infuriating setup with the dollar and Interest Rates were going higher. We know that those are both poison to stocks. Well stocks were still cl
Since before the financial crisis. The National Association of realtors says sales rose 3. 2 in june helped by steady job growth and an improving economy. That report helped send shares of Home Builders higher even as the Broader Market fell today. And while it may seem like the housing recovery is firing on all cylinders, diana tells us there is something not quite right. Reporter the number for the Spring Market are in and strong. Home sale rose more than 3 for may and are now up nearly 10 for the year. Thats the highest monthly pace in over three years but the sales came at a high price. The median existing home price hit 236,400. The highest ever. Thats due to tight supply barely up at all from a year ago. At some point, there will be a choking point with prices rising and we are facing a rising interest rate. That hurts availability. So we may see buyers being chopped off. Not because of the lack of desire to buy a home but the price increase is preventing many people being able t
Sales to their highest lel since before the financial crisis. The National Association of realtors says sales rose 3. 2 in june helped by steady job growth and an improving economy. That report helped send shares of Home Builders higher even as the Broader Market fell today. And while it may seem like the housing recovery is firing on all cylinders, diana tells us there is something not quite right. Reporter the number for the Spring Market are in and strong. Home sale rose more than 3 for may and are now up nearly 10 for the year. Thats the highest monthly pace in over three years but the sales came at a high price. The median existing home price hit 236,400. The highest ever. Thats due to tight supply barely up at all from a year ago. At some point, there will be a choking point with prices rising and we are facing a rising interest rate. That hurts availability. So we may see buyers being chopped off. Not because of the lack of desire to buy a home but the price increase is preventi
Sales to their highest lel since before the financial crisis. The National Association of realtors says sales rose 3. 2 in june helped by steady job growth and an improving economy. That report helped send shares of Home Builders higher even as the Broader Market fell today. And while it may seem like the housing recovery is firing on all cylinders, diana tells us there is something not quite right. Reporter the number for the Spring Market are in and strong. Home sale rose more than 3 for may and are now up nearly 10 for the year. Thats the highest monthly pace in over three years but the sales came at a high price. The median existing home price hit 236,400. The highest ever. Thats due to tight supply barely up at all from a year ago. At some point, there will be a choking point with prices rising and we are facing a rising interest rate. That hurts availability. So we may see buyers being chopped off. Not because of the lack of desire to buy a home but the price increase is preventi
Anywhere. Lets put it that way. I know doug just blamed the fed on puerto rico or partly. I dont want to put words in his mouth, but puerto ricos troubles were caused because they spent too darn much money and theyre not growing and have a lousy regulatory and tax and spending environment. Theyre illinois and illinois is next, and its not because of the fed, its because of the government of these entities. We looked at the statistics, Something Like 70 of mutual funds, brian, had exposure to puerto rico. Yeah, i get that. The potential return they could get. And they also thought they were going to get bailed out which is nothing to do with the fed. I know ive made this point twice, i want to make it a third time, and you may think im a broken record. Japan has been doing quantitative easing since 2001. Theyre not growing. They havent grown for 25 years. This idea that quantitative easing can create growth, there is zero proof that it works, none. Danny, how do you respond . There is t