85 points. Hour, take a look right here. Were going to put a circle on this. This basically is where we are now. And as you can see we did take a dip. We were down almost 100 points. Now the market is starting to come back a little bit. It is really an incredible market story today. The vix alone in the first two days of this week, you know everybody has been saying its a low volatility environment. This week alone in the first two days the vix has spiked 16 . Add to that, todays advance, it seems like volatility is back. Seema modi is up down comping the nasdaq. That index is seeing a big jump after stocks jumped basically like a rock on the open. To bob pisani right over behind my shoulder at the floor of the new york stock exchange. Bob, its going to be interesting to see whether or not we get this kind of volatility for the rest of the trading day. So far weve been very steady. I want to point out the volume is average right now. Its not stronger or weaker. I just want to put up th
When it came to building and maintaining Affordable Housing long before covid19. Back in 2020, a rhode island family earning the states Median Income couldnt afford to buy a home at the median price anywhere in the state. It has only gotten worse since then. Across the country, home prices have risen 13. 4 from last year, with the National Median price now at 416,000. In my state, the Rhode Island Association of realtors reports that the median price of homes sold in june 2022, reached an alltime high of 430,000. Thats 11. 7 higher than a year earlier. A large reason that homeownership is out of reach for Many Americans is that the inventory levels are so low. In recent months, sales have dropped as Interest Rates have increased, but nowhere near a balanced market. In a healthy Housing Market, there is usually 6,000 homes for sale at any given time. Right now our country hags less than a threemonth supply of homes and rhode island has less than a twomonth supply. As potential home buye
Televisions, even our refrigerators and washing machines, products we use every day, well, they need computer chips to function. Theyre also used in critically Important Technology like the medical equipment in our hospitals and the Technology Used by our military. This is why the computer chip shortage were facing is a critical economic and National Security issue. It has caused prices to rise, contributed to supply chain issues, and limited the availability of many products, something that anyone who has tried to buy or rent a car over the past couple of years knows all too well. This shortage, its directly impacting hardworking families and the businesses that support jobs across our nation. And it has hurt companies and employed people in my state of nevada, like v varion medical systems which uses computer chips to manufacture cancer fighting and other critical medical technologies. This shortage, this shortage is impacting lives and livelihoods. For decades america was a Global L
Were still off 82 points. Its been a rough week across the board, especially for other indexes were not showing here. The russell 2000 having one of its worst weeks in some time. So, this all comes, of course, on the back of some selling weve already had this week. Its not just about the action today. The last hours going to be critical here to see whether we can stay off the lows of the day or if we head back to those lows. Theres the russell. Yeah, off 1 today. Meanwhile, lets look at some of the other markets. The nasdaq off 0. 6 . There it is. And 4,393 is the level, off 12 points. The dow is off 81, thats 0. 5 , 16,904. And off nine points. Joining our closing bell exchange, doug cote, jim lowell, charlie blel, Quincy Krosby from prudential and we have Michelle Carusocabrera and rick santelli. Michelle, when we all got up this morning, things looked bleak. There were concerns about this big Portuguese Bank, but now things look like theyre settling down a little bit. What was the s
The dow plunging 180 at the open and rebounding at the close. There was nothing normal about the trading session. Investors dumped stocks from europe about the Financial Health of a big but relatively little known bank in portugal. It missed some debt payments that stirred up worries of a repeat of the european banking crisis from a few years ago. But then, comments from many market pros here in the u. S. All day long reassured investors the fundamentals had not really changed and stocks made a uturn. By the end of the day the dow lost 70, nasdaq off 22 and s p slipped eight points. Todays losses followed a big sell off over in europe, not only because of worries about the health of portugals Financial System but a slowdown in manufacturing across the contine continent. That renewed concerns how far europe and its banks have come since the financial crisis. Karen has more now from london. Reporter it was a day of fear for european markets as investors were scared by the Banking System