the call, everyone. stocks moving higher, powering higher, up 54 points right now on the dow. we ve got earnings and earnings and more earnings. we re going to discuss exactly how the earnings picture looks as well as to whether or not dow 10,000 has become the new support level. welcome in, simon. i m in for richard kudlow. with the dollar weak and no sign of revival for the greenback should we return to the gold standards. and i m melissa francis. barnesandnoble.com heading into the book business. this is the call on cnbc. stocks higher so far on this morning boosted by some solid earnings, this time from morgan stanley and wells fargo. boeing flipped a loss. take a look at the dow. close to dropping below 20 for the first time since august. the dow right now, up 50 points. take a look at the nasdaq. it is trading to the positive side as well. it s almost a full percentage point on the day, 2182. take a look at the eurodollar, dropping below $1.50 on more dollar w
it. although it s firmly above 10,000. caterpillar came home with earnings more than ten time what the street was looking for. it is funny how the market goes up and people say, it makes no sense, makes no sense. then all the numbers come out and they go, these are all pretty good. did not the market have an idea that maybe these numbers would be better than thought? certainly a hope. that appears to be getting affirmed. and it is another day, and that means, guess what? another busy earnings day today. before the bell, we ll get numbers from nor tlum grumman, boeing, eli lilly, genzyme, st. jude medical. yesterday boeing was down about 3% after a downgrade from morgan stanley talking about concerns with the 787. they worry that it s going to be too heavy now because they put these new titanium car about you nkles in to try and reinforce someone has been traveling! someone has been reading on the plane! i don t know what they are. carbunkles on the bottom of
to about 15% of the s&p 500 and 2/3 of that is the oil complex. china just doesn t impact health care, defense, banks, retail, restaurants, utilities. it only impacts minerals. some machinery companies. joy global how did they get to be king? companies that ships and stuffs them. when the oil futures rally as they did, that pretty much nullifies china s pull down. i love the chinese can t live without them or their food, for that matter. but we still have a nonchinese-based economy. then, you have to question whether the weakness in china is even worth getting worked up about. we re hearing that china is now in a bear market. whoa! scary. because it s down 20%. sell, sell, sell! wait a second. china was up 80% going down to the down 20%. by this logic, the chinese market has to go up to infinity if we re going to keep our markets up. even our marks were up 8% when they were up 80%. let s figure out how to analyze let s look at china. let s call the stock. so t