Gop contenders clash in colorado. It was one gotcha question after the other. Someone has convinced you that attacking me is going to help you. I wish i got to answer questions about things on the minds of people. We have al qaeda attacking us and were talking about fantasy football . I dont think ive ever seen these words before. A blimp is on the loose. If it turns south, shoot it town. A runaway military blimp in pennsylvania took out power lines. The system that brought heavy downpours will deliver more wet weather. A sheriffs deputy caught on camera slamming a student to the floor has been fired. His boss says his response was excessive. Paul ryan will be confirmed as the houses new speaker. Were going to move forward. Were going to unify. Floyd ray cook is still on the run. In sacramento, slammed to the ground, a School Principal got back up and School Resource officers arrested three students. All that. The twohitter. It was electric tonight. All of that matters. A washington, D
Three county 65 and across the hudson to white plains 65. 67 belmar. Warm temperatures. You see on the radar rain from kingston and poughkeepsie southward to new jersey and eastern long island has rain. There is another batch in the ohio valley. I show you that because it will die out by the time it gets to us. That is cool air by the time we get to this evening. Rain this morning until sunrise around 7 00. Then it will be warm and it will be breezy this afternoon. We got all kinds of Flooding Issues this morning. Not only flooding we have a major accident in new jersey. We will go to the maps. Pulaski skyway is closed because of a multivehicle accident. We have all lanes closed down as a result. Avoid that spot. 4 and 6 trains, track work downtown. 42nd into the Brooklyn Bridge. Long island railroad, metro north, new Jersey Transit on or close to schedule. Street cleaning rules are in effect. New details this morning on a shooting in harlem that left one man dead and another injured.
But first we start off with a market that seems like it wont quick. The dow surging for three straight days. Materials and Energy Leading the way. Rallying 3 and 4 in todays session. Is this a rally you want to buy or fade. Guy . Some you want to fade. No question about it. Freeport macmaran, the movement over the last week. Nothing has changed whatsoever. Other than the fact the stock is up 20 . Caterpillar will be up 7. 5 to 8 . Nothing has changed there. And on the flip side, Goldman Sachs. But the names beaten up for a reason over the last year that has rallied in the high teens in three or four days you absolutely fade. Why does Goldman Sachs get a reprieve when others dont. And i think in the case of the commodities guys, look at copper. Spot copper is up 5 . Quietly over the last month. In fact, all kmcommodities, ex oil, are up. And you have to break out the suede vest and burn the yule log. That looks psych the source of chipoltes problem. They want you to burn the suede vest.
And a recovery in oil prices. In fact, stocks tied to commodities rallied across the globe, and todays rally puts the s p 500 back in the green by a smidge for the year. One marketwatcher said he thinks this is the longawaited, somewhat traditional santa claus rally and that stocks were due for a bounce. By the close, the Dow Jones Industrial average rose 185 points to 17,602. The nasdaq added 44, and the s p gained 25. Oil prices recovered, ending sharply higher after an unexpected decline in crude inventories in the u. S. Opec also issued an outlook for prices, saying they were set to rise, though slowly. Domestic crude settled nearly 4 higher at 37. 50. The gains werent limited to the energy sector. Mining stocks also rallied, this on a report that china will cut its steel surplus, something thats kept prices at a decade low. If the country cuts back on production, analysts say chinas steel glut may begin to moderate in the new year. That supported a number of wellknown mining stock
And a recovery in oil prices. In fact, stocks tied to commodities rallied across the globe, and todays rally puts the s p 500 back in the green by a smidge for the year. One marketwatcher said he thinks this is the longawaited, somewhat traditional santa claus rally and that stocks were due for a bounce. By the close, the Dow Jones Industrial average rose 185 points to 17,602. The nasdaq added 44, and the s p gained 25. Oil prices recovered, ending sharply higher after an unexpected decline in crude inventories in the u. S. Opec also issued an outlook for prices, saying they were set to rise, though slowly. Domestic crude settled nearly 4 higher at 37. 50. The gains werent limited to the energy sector. Mining stocks also rallied, this on a report that china will cut its steel surplus, something thats kept prices at a decade low. If the country cuts back on production, analysts say chinas steel glut may begin to moderate in the new year. That supported a number of wellknown mining stock