A nice move for that company. Lets stay with tech for the moment. Got to talk about sony, releasing its brand new playstation 4 video game console at midnight last night. You may remember yesterday jack trenton, president and ceo of Sony Entertainment america, joined us live with one of the consoles on the set. Weve been previewing this thing since silicon valley, three days in the valley. So will the new playstation put competitor put pressure on debt to haves like microsoft . Nicole petallides. Reporter no doubt. And i almost feel an expert many this because my family, full of boys, loves it. Electronic arts, gamestop, of course, where you go to buy this stuff, act vision right now unchanged at the moment, Electronic Arts getting beaten down, 6 to the downside. Im telling you, trust me, take two with interactive, virtually flat at the moment. Lets look at sony which got an upgrade yesterday, people have been lining up to buy the playstation 4, certainly going to be on the holiday lis
Corrodes market discipline, it creates a threat to financial stability, and it does unfairly, in my view, advantage large banking firms over small ones. Liz okay. So thats an important point here. Shes basically throwing down the gauntlet saying no bank is too big to fail. Yellen also conceded, though, that the Federal Reserves large scale bondbuying program known as quantitative easing cannot go on forever which is, of course, the biggest parlor game around. Exactly when will the Federal Reserve begin to taper . Theyve got a meeting in december, some say then, some say into 2014. Once again, you look at the numbers, were in record territory for all of those who own stocks and are long stocks, its the retailers specifically continuing to rally building on yesterdays big Earnings Report from macys. Four stocks appear to be breaking out to record highs for the second day in a row. Lets head to Nicole Petallides on the floor of the new york stock exchange, and what i found interesting is
Not much of a market move, but still five in a row. Reporter yeah, well, five in a row to the downside. Yeah. Reporter the bottom line here. The dow jones industrials, up modestly 45 points in the middle of the day, and ended slightly in negative territory. If you want to know, what happened in the last hour, because thats why im here, folks, exxon. It did it again. Look at this. There it is. Are we down . Down. Exxon is down 19 out of 20 days by my count. And, yes, yesterday was 18 out of 19. Theres your problem. Energy stocks, chevron was also weak throughout the day. Volume picked up. Lets move on here. One of the reasons we were calm throughout a good part of the day is the 10year flat lined. Look at that. Its just about a flat line here. The yields, i mean, on the downside. Prices on the upside. That helped throughout the day. It helped, also, that emerging markets were a little calmer. It was generally downside day in emerging markets, but a little calmer. Theres the eem, the eme
Demand good morning on september 11th. Never gets any easier. Connell especially for people in this city which we will be talking about in a couple minutes. At the Trading Floor they have the special charity event. Dagen run now we want to bring you uptodate on these markets, Nicole Petallides is at the Stock Exchange with more. Nicole it is a tough day, Dow Jones Industrials hit it off at the markets, the dow was up 46 points at the moment, nasdaq composite and the s p pulling back because of avalanche apple comprises 13 of the nasdaq composite. Lets check on apple on this day after we heard all about the i phone 5 c and the iphone 5 x land all the features and the better of those two models and apple is down 29, back to you. Dagen thanks so much. 12 years after the attacks on 9 11, right now, members of congress from the house and senate are participating in a ceremony on the steps on capitol hill but again it is a painful day for this country, still as painful as it was years ago. B
Background on wall street. He is really tied in to what the fed has been doing and whether that has inflated assets on the market. I thought that was a fascinating interview. Liz we were talking before the interview about shutterfly, which of course is such a big, successful photo business and make books and keepsakes. He started resonating when he talked about what he felt was a flatout bubble created by the fed. So we began to talk about this, wait a minute, why dont i share this with viewers. Here is what the ceo of shutterfly had to say about this. I think with low Interest Rates and with quantitative easing, you have troubles in india and brazil. You have europe doing a malaise. You have interest ratings rising. So money is chaising yield and it is flowing into u. S. Equities and u. S. Housing. Were creating mini bubbles. The fed rightfully so trying to get people to lend and the economy going but at some point we have to pull back. Liz make no mistake, he thinks this needs to end