Welcome back welcome back to squawk. Lets get back to our guest host mark zandi who has the last word. All morning ive been talking about the next couple of quarters and i sound dark, and i dont mean to. I am very optimist being. What happened to the last two hours . You forced me. In the next couple of three quarters we cant look past that that i do think we have issues in the next few months, but ill give you one more last statistic. Every housing start requires five jobs for one year and Housing Construction will double in the next four years. Thats great news. Mark zandi, thank you for being here. Thank you. Steve. Thank you for being here. You dont look like joe kernen. I definitely dont look like joe kernen. Squawk on the street joins us right now. Good monday morning, good monday morning. Welcome to squawk on the street. Im melissa lee with, and lets see how well open for four Straight Record closes for the dow and it looks like the street may be pointing to a lower open. As for
says it s going to keep interest rates where they are, near 0%. and it also says it s going to keep up its bond-buying program. the markets like what they heard from the fed along with a pledge from the new head of japan central bank about its own bold, easing measures to be unvailed on thursday. as a result, stocks moved higher here about. the dow touching an all-time intraday high. the blue chips did close 56 higher. nasdaq up by 25 and the s&p 500 rose for the first time in four sessions adding 10 points and taking us to within a few of an all-time high. steve leaseman tells us where we go from here. the federal reserve voting 11 to 1 to keep its policy in place and purchasing $85 billion a month in treasury and mortgage-backed securities in an effort to drive down long-term interest rates. but the federal reserve chairman in the press conference after the statement came out, suggested that the fed may reduce the amount of monthly purchases if he sees sustained improveme
questions about how the way cyprus has created for other countries and the like. it does have some consequence. having said that, you know, the vote failed and the markets are up today. and i don t think that the impact has been enormous. finally, the federal reserve in its statement for the first time made mention of fiscal restraint, which is another way of saying the sequestration that many analysts did not think was going to happen. fed chairman did say that he has concerns that reducing federal spending could reduce economic growth. back to you guys. well, two big companies that could be considered bellwether to the economy had two big misses today. oracle, the world s third largest software maker came in shy as new software sales sell. on the numbers, oracle shares took a big hit. and the other miss, fed-ex, the company reported weakness in international market as well as customers choosing cheaper options. with us now, more analysis of the fed decision and on t
cyprus has created for other countries and the like. it does have some consequence. having said that, you know, the vote failed and the markets are up today. and i don t think that the impact has been enormous. finally, the federal reserve in its statement for the first time made mention of fiscal restraint, which is another way of saying the sequestration that many analysts did not think was going to happen. fed chairman did say that he has concerns that reducing federal spending could reduce economic growth. back to you guys. well, two big companies that could be considered bellwether to the economy had two big misses today. oracle, the world s third largest software maker came in shy as new software sales sell. on the numbers, oracle shares took a big hit. and the other miss, fed-ex, the company reported weakness in international market as well as customers choosing cheaper options. with us now, more analysis of the fed decision and on the outlook for the economy i
roadmap starts with that rally by draghi. the ecb president said he will do whatever it takes to preserve the our ro. could this come just in time for the life of dow chemical. exxon mobil s quarterly profit jumped 49%. the share was below estimates of $1.95. zynga gets zinged. that sent shares of facebook lower premarket ahead of its first earnings report as a publicly traded company. mario draghi said the ecb will do whatever is necessary to prevent the eurozone from collapse. his comments coming in an investment conference in london. the last summer was a real success because the first time in many years that all the leaders of the 27 countries of europe, including u.k., said that the only way out of this present crisis is to have more europe, not less europe. all right. meantime, citi out with a report saying it believes there is a 90% chance greece will exit the euro in the next 12 to 18 months. that s up from 50 to 75%. greece is not really the key concern. it