Youre watching First Business financial news, analysis, and todays investment ideas. Good morning. Its tuesday, november 20th. Im angela miles. In todays first look traders and investers are feeling better about the possible ending for the cliff hanger in washington. They were buying the market with both hands on monday, leaving green arrows pointing higher across the screen for stocks and commodities. Federal reserve chair ben bernanke speaks today at a new York Economic Club meeting. Hes expected to talk about monetary easing and the economic recovery. Eurozone leaders meet today to talk about bailout funding for greece. And the World Bank Says more droughts are likely worldwide as Global Temperatures continue to rise. Violence is ratching up in the middle east. John brady of rj obrien joins us now for a look at the trading day from cme group. Good to have you on the show this morning. Thank you much. Oil prices were higher yesterday by almost 3 during the session at one point. Is th
Cents. Facebook is buying oculus vr for 2 billion. Its a Virtual Reality tech cojmpany. And the irs is defining the bit coin as property and not currency which could give americans a boost on taxes. Some investors are looking for a bigger boost in the stock market. Larry shover of sfg alternatives joins us. We seem to be in a range bound market, what levels are you watching . A lot of people have a lot of theories about on whats going to make this go out of its range. Whether it be the unemployment number next week, auto sales, pmiswho knows . But the longer were in this range the faster were going to move out of it. The forecasters are predicting another chilly day going towards the east coast. Whats going on with natural gas . We continue to see natural gas rising and inventories falling. Thats bad news. We do have a big supply however we have a huge deficit thats going to require a lot of production this summer to make up for the deficit weve drilled into this past fall and winter.
His testimony to congress on the economy. They are seeking clues as to when the fed will taper its bondbuying program thats been stimulating the economy. Stocks sink ahead of the fed testimony. The dow lost 32 points, the nasdaq 8, and the s p dropped 7. Gold edged up 8 and oil slid 35 cents. Yahoo is sending out a mixed message. The tech Company Earned a nickel more than anticipated, but the revenue and the outlook came in shy. Csx chugs along profits were up 4 as freight volumes rise. Larry shover of sfg alternatives gets the ball rolling for us this morning. Larry, what is the market telling us about that testimony on capitol hill by fed chair ben bernanke . Its funny you mention that. I think the next two days were just going to be on hold. People are so worried about the disconnect between gdp thats being revised downward and the jobs report, so people just dont know what to do with this. Perhaps some people thinking that tapering will happen in september, some thinking in decembe
Now. Youre watching First Business financial news, analysis, and todays investment ideas. Good morning. Its wednesday, november 28th. Im angela miles. Stocks and shocks a selloff in stocks and commodities took more of a downturn, possibly following comments from Senate Leader harry reid that budget talks may be stallng out. Groupon shares rallied on word talks are underway about a new ceo. Investors poured money into Green Mountain after the close. The stock gained 20 after hours on betterthanexpected earnings. And the new apple imac will go on sale friday. Larry shover of sfg alternatives joins us now for a closer look at todays trading market. Good to have you on the show larry. Always good to see your smile. A lot of reports were surfacing yesterday that harry reid actually moved the market because he said that talks had stalled out over the fiscal cliff. Do you buy into that . Perhaps. Right now, the market seems to be shrugging its shoulders at every headline that comes in, becaus
Added 41 and the s p was up by 15 points. Gold gained 11 dollars while oil fell. Profits slipped at disney, but traders shrugged it off last night. The stock initially edged up on earnings after posting stong numbers from its theme parks and cable channels. Its game on for zynga the stock climbed nearly 6 last night in heavy trading volume. Earnings and revenue came in much better than wall street expected. And a new report says Hewlett Packards board is considering breaking up the company. Here for a look at the market, matt shapiro, president of mws capital. Good morning matt. It wasnt too long ago you were on the show, and you were talking about the s p 500 going to 1600. That doesnt seem so out of the picture now. Are you sticking with that . Absolutely. The underpinnings of the market, and i think what 2013 is going to become known for, is a shift in embracing again equities after years of such high anxiety. I have come across a chart the shows how high the market can go after the