Yesterday after soaring wednesday on the fiscal cliff deal. Treasury secretary Timothy Geithner reportedly will leave his position at the end of january. Macys is closing underperforming macys and bloomingdales stores in california, maine, hawaii, texas, ohio, and the mall of America Store in minnesota. And arctic rescue mission the u. S. Coast guard is still trying to free an oil drilling ship owned by shell that has been stuck off the coast of alaska since new years eve. Lets check in now with joe cusick of optionsexpress for his take on todays trading. What do you expect in the jobs trade today . You know angie, it is going to be very interesting. On the close yesterday, there was a very interesting trade there was a large seller in the big s p contract, about 4000 contracts traded on the close. So, a very interesting trade going into the number. Potentially some hedging going into the number, because we had mixed data yesterday with the adp number coming in better thanexpected but
Scott bauer of trading advantage is standing by. Good morning scott. Good morning angie. You have your eyes on stocks to watch in 2014. Lets start with the financials. What would be your pick in that sector . The financials are really what have led this market higher in the past couple of years and now that weve already seen one tapering with more to come, rates are going higher and quite frankly the banks make money when rates go higher. I love Goldman Sachs, i love jp morgan, i love the entire Financial Sector so if you wanted to play it just on a macro basis, you can go into the etf or the xlf, but really goldman and jp morgan is what im watching. What would your play be on the consumer and Consumer Spending just for everyday goods . The Economic News has been pretty good. I like the Consumer Staples industry. I like the procter and gambles of the world. I like cocacola quite frankly. These consumer staple stocksthe ones that have just not really outshined the market but have just t
Quarter rose at its fastest pace in 3 and a half years. And in another split, new home starts fell in december but, were up for all of 2013. All of this resulted in, well, a split close in the markets. The dow closed up on friday while the nasdaq and s p 500 finished lower. Gold took a 13 dollar an ounce leap and oil futures closed friday at a 2 week high, just over 94 dollars. Traders are still digesting the impact of the president s announcement that he will limit the vast sucking up of data of our phone calls. Intel is cutting jobs. The pc maker says it will fire 5 of its workforce as it transitions into new markets amid a slowing pc market. And freedom industries, the company that fouled the water supply in charlston west virginia. Also still it has filed for bankruptcy. The chapter 11 filing estimates the companys debts to be around 10 Million Dollars. The Chemical Spill caused 300 thousand people to be without water for several days. Lets find out now what this holiday shortened
In todays first look the market in crisis mode over syria. The volitility index raced up 12 . As fear and anxiety strike stocks. The dow plunged in a triple digit fall. The nasdaq had its worst point drop of the year. And the s p broke through technical support. Gold futures pushed up 23 and oil spiked close to 109 dollars per barrel. Jcp posted a record trading day with near 100million shares changing hands. It follows a report activist investor bill ackman sold his entire stake the retailer. The stock closed down 18 cents around 13. 00. And walgreen is accused of overcharging customers and using false advertising. The lawsuit was filed yesteray by the attornery general of missouri. Walgreen will fight the charges. For more on the Market Reaction to syria, larry shover of sfg alternatives joins us. Good morning larry. What is the market telling us about the situation. The market is saying they dont know whats going to happen. Yesterday the news reports really didnt change that much. 2
To be headed for a super slide. And, keep it on this bat channel a superheros car is on the auction block. First business starts now. Youre watching First Business financial news, analysis, and todays investment ideas. Good morning. Its friday, november 30th. Im angela miles. In todays first look a buyers bounce despite rehtoric out of washington, investors are buying stocks. The dow is now up for the week. Gains were also made across the board. The cbo reports the debt limit is okay for now. The treasury has the money to fund the government up to march of 2013. Speculation is building tmobile may start selling apple iphones next week. A campaign called fast food forward is happening in new york. Employees are planning walkouts at burger king, kfc and taco bell. They want pay hikes up to 15 per hour and the right to form a union. We are here to serve up some information about the market. Tim mulholland of chinaamerica capital joins us now. Good morning to you tim. It is the final tradi