Air . Because the market is marching back to the alltime highs . Well, i thought that, and a fum ber of the investors that i spoke to noticed that the link between correlation of crude and the markets is starting to dissipate somewhat, and apparently that not the case today, and the reason that it is dissipating is that as crude consolidates and the big volatile moves go away that the algo guys are saying, i have to find Something Else to wreak havoc with. But i am surprised that it is trading positive and it is counter intuitive with the kuwaitis coming back on after three days off, and people are kcome fortable with having foun the downside and so it is up. And doc, it is inevitable that the market wants to try to retest the old alltime highs. And certainly pushing it. And slow and steady march there. And pushing, judge. A lot of people sold as soon as we get close to it, it is going be another batch of selling, and the question is, how quickly do the people have to cover . If it rev
Welcome to Worldwide Exchange on cnbc. Im sara eisen. Was that song slightly sped up . This is a remix. Its all your energy. We better be suped up on what the markets are doing. The futures are pointing to a positive open. We are not seeing quite as many gains in europe but still gains nuns. The d nonetheless. We saw about 80 points higher about half an hour ago. The s p called higher by 6 points. The nasdaq by 16. The dow and s p made it two consecutive weeks of losses, albeit small ones last week. The nasdaq and the tech sector suffering a little bit more. The tenyear note on the jobs note out on friday, they did see some yield increases, albeit the margin on 1. 78 this morning. As far as the global markets, chinese trade data and oil prices, the chinese stocks closed sharply overnight. Among the reason, weaker than expected Chinese Markets shrinking in dollar terms last month. Imports was the worrisome spot declining nearly 11 . As for the rest of asia, japans nikkei rose up 7 . The
Sentiment is negative will have no bearing on what happens. What about europe . How concerned are you about europe, that its going to rear its ugly head yet again, that we havent seen the worst, especially on the Banking System . I think, that you know, to contrast europe and the United States, both areas went through a severe trauma to the credit of the United States. We put in a lot of changes. There was a lot of deleveraging, banks, in particular, but other firms went out and raised a lot of capital quickly. Liquidity and i think they are in very good shape, and, of course, no one has outrun having to deal with legacy issues, but they are being dealt with simultaneously or even after weve addressed the situation and gotten the economy, if you will, in a better shape. In europe they some of those havent been done. Theres not theres still a lot of leverage in the system. A lot of capital hasnt been raised, and they have one of the things that gave europe its advantage and a tailwind w
Major comeback over the last four weeks. But heres the thing, guys, its not just those momentum stocks. Largecap tech stocks also moving to the down side. Steve malone vich at ubs has a buy rating on apple, but he did put out a cautious note today, saying apple could face pricing pressures in china. On that note, intel and ibm will be in focus, kicking off tech earnings next week. Thats when investors will get an initial preview of what to expect in the Second Quarter. Bill and kelly . Seema, thank you very much. Lets talk about whats going on today and what it means. Joining our closing bell exchange, winnie sun from Sun Group Wealth partners, rob morgan, mark matsen from matsen money. Anthony chen, maybe one of the most bullish economists on wall street. Hes with chase. And our own Rick Santelli. Anthony, im going to start with you. The tone of the market lately, weve seen very defensive issues moving higher. Utilities are actually up today, while the secondaries, the small cap stock
Susie entirely without legal merit, thats what standard and poors is calling a potential lawsuit by the department of justice, for s ps mortgage bond ratings ahead of the financial crisis. These charges come five years after the financial crisis and would be the first alleging illegal behavior by a major Ratings Agency. As darrensh ger reports g, s p is fighting back. Reporter what took so long . Thats the reaction from critics who have long argued standard and poors gave a stamp of approval to flawed Mortgage Securities that helped bring on the financial crisis. It has to do with the unique role that ratings agencies play in the entire system of selling and distributing securities and the claims that they made about their role for which they were paid handsomely. Reporter in a statement, standard and poors said the Justice Departments lawsuit had no legal or factual merit. Saying it would disregard the central facts that s p reviewed the same subprime mortgage data as the rest of the