What a strong, bizarre comeback. Many stocks were swept up in the big jump in oil. A monster 2. 60 move off the 3 basis but something profoundly positiveveappened today. The stocks of the companies that were most on the ropes in the oil patch like chesapeake, freeport and other dead man drilling stocks actually read the rally and that reassured buyers who flocked to many of the beaten down sectors in this market. Let me tell you why. For ages oil has been dragging down the whole market because of a false sense that demand for crude is declining. Machines that sell stocks when oil goes lower may make them money. I dont want to argue facts. The fact is the demand for oil is going up, not down. There is a consequence to oil going down, when when its a supply glut not demand softness. We get very concerned. Worried, frightened about oil from the wells isnt great enough to cover the debt load. Hence, bankruptcy on the horizon. This is a big but. If crude could stay between 35 and 40, a few
Nasdaq declineds just. 28 . What a strong, bizarre comeback. Many stocks were swept up in the big jump in oil. A monster 2. 60 move off the 3 basis but something profoundly positive happened today. The stocks of the companies that were most on the ropes in the oil patch like chesapeake, freeport and other dead man drilling stocks actually read the rally and that reassured buyers who flocked to many of the beaten down sectors in this market. Let me tell you why. For ages oil has been dragging down the whole market because of a false sense that demand for crude is declining. Machines that sell stocks when oil goes lower may make them money. It doesnt make them right. I dont want to argue facts. The fact is the demand for oil is going up, not down. There is a consequence to oil going down, when when its a we get very concerned. Worried, frightened about Oil Companies where the cash flow from the wells isnt great enough to cover the debt load. Hence, bankruptcy on the horizon. This is a bi
What a strong, bizarre comeback. Many stocks were swept up in the big jump in oil. A monster 2. 60 move off the 3 basis but something profoundly positive happened today. The stocks of the companies that were most on the ropes in the oil patch like chesapeake, freeport and other dead man drilling stocks actually read the rally and that reassured buyers who flocked to many of the beaten down sectors in this market. Let me tell you why. For ages oil has been dragging down the whole market because of a false sense that demand for crude is declining. Machines that sell stocks when oil goes lower may make them money. It doesnt make them right. I dont want to argue facts. The fact is the demand for oil is going up, not down. There is a consequence to oil going down, when when its a supply glut not demand softness. We get very concerned. Worried, frightened about Oil Companies where the cash flow enough to cover the debt load. Hence, bankruptcy on the horizon. This is a big but. If crude could
Positive happened today. The stocks of the companies that were most on the ropes in the oil patch like chesapeake, freeport and other dead man drilling stocks actually read the rally and that reassured buyers who flocked to many of the beaten down sectors in this market. Let me tell you why. For ages oil has been dragging down the whole market because of a false sense that demand for crude is declining. Machines that sell stocks when oil goes lower may make them money. It doesnt make them right. I dont want to argue facts. The fact is the demand for oil is going up, not down. There is a consequence to oil going down, when when its a supply glut not demand softness. We get very concerned. Worried, frightened about Oil Companies where the cash flow from the wells isnt great enough to cover the debt load. Horizon. This is a big but. If crude could stay between 35 and 40, a few bucks higher than now, many of the troubled Oil Companies can pull off the unthinkable and stay afloat. That woul
Place before you go to work. We will take you to a 7 00 a. M. Rave. Good morning, everybody, this is Market Makers. Rave . 0 a. M. Im excited. We should do that one day. For the moment, we are looking at sun Economic News, isn nonmanufacturing index is just out, a gauge of the economys marissa are. Michael mckee has the headline. Quite a good start to the trading day. Pmi comes ining 1058. 7, the best since 2005. This is a broad measure and includes most of the Service Industry. It tells us that the Service Industry is doing well in this country. Take a look at the new orders index, 64. 9 from 61. 2. Business at 70, 60 2. 4. We have not seen numbers like this in about eight years. 62 activity, 62. 4. Capital goods, nondefense x 3. 8 after falling 1. 4 in the prior month. We are making some Real Progress here, looks like some good Economic News to trade him today. Thank you. Now it is time for the top is the stories from around the world. Get that is publishing in two. Ae company will b