About how far weve come in a market for the s p 500 that has just about tripled. The dow jones not nearly as much, but still a huge move higher. The charts, this is in real tile. The dow industrials, yes, up 160 since that march 9th closing low. The s p 500, 193 , so yes, nearly a triple 676, that was the closing low price on the 9th, 666, the number of the beast, day low the day before. Nasdaq composite setting it up 267 . If you take a look at the next layer of the onion, where we saw the biggest winners and losers overall from a sector perspective, the retail stocks, consumer stocks, up 377 , and of course, we know over the last couple of years, with the sharp drop in Oil Prices Energy stocks have been the big lagguard, up but since marlowes in 2009. Put it in perspective, stock winners and losers. Delta airlines, 1,000 gain since then. Netflix yes, it was around, up 1667 . General growth properties, once a 38 sent stock, was thought to be going bankrupt. Up nearly 10,000 then. As f
How this all plays into the Federal Reserve. I like jims point there in Halftime Report which is if they dont move in september, were goi in december, were going to drive ourselves in sane. This is right in the sweet spot of the feds full employment number. Maybe that number is going to come down but right now theyre between 5 and 5. 2 . Over to the 173, thats the payroll number for august. Thats below the 220,000 that was forecast but several economists, many economists, point out august has been consistently revised higher. The most revised month of the past five years. You by 75,000. We also have positive revisions and a wage number that was a little bit higher than expectations. Some of the calls made expost after the number came out. Wells fargo, ubs, bank of tokyo, all affirming or saying they are in the september camp for Federal Reserve raising rates. With. September, there are good names over here in december. All these in the december camp. Quickly some of the arguments. Reas
Above that obsession . When will he lose that over rich people and tax rates . I dont know. Tonight, im is going to try to call his bluff. Anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. President obama issues a stern warning to syria and i quote the world is watching. And there will be consequences if syria uses these wmds. Have we just committed ourselves to another war . And the gun control debate is squarely back in the spotlight tonight after the murder suicide by nfl player in kansas city, Second Amendment instead of blaming the sick people who use them. Republicans have responded to a fiscal cliff counter offer to president obama. Eamon javers joins us now from washington with all the details. Good evening. Reporter good evening. Leapt me walk you through the specifics or at least what specifics we have so far from this boehner counter offer and you can see where it falls short from the white houses perspective right in the top line take
You want to keep your insurance premiums affordable, you may be looking at a stunning annual deductible of 12,700. Thats not good. These stories and more coming up on the kudlow report starting right now. Good evening, everyone. Im larry kudlow. Tyler mathisen joins me on set. Were live here at 7 00 p. M. And 4 00 p. M. Pacific. Waiting for budget news of a potential deal in washington, d. C. Joining us now live from washington, d. C. , robert costa, washington editor of the national review. Robert, we thought we had meetings, thought we had deals. What happened . Things are postponed for right now, larry. You have a very narrow gap between Senate Democrats and Senate Republicans. A deal seems to be close. Right now, theyre not ready to unveil it or confirm it. Whats breaking this thing up . As you mentioned in your opening, sequestration, democrats are pushing harry reid to get some kind of sequestration fixes. They want to change the budget control levels from the 2011 spending bill.
Incomes below 250,000. A senate bill would likely contain an extension of expiring unemployment benefits. And the other big news of the morning, treasury secretary tim geithner unveiling a plan to buy time under the debt ceiling. In a letter to congress, geithner saying that treasury is going to begin taking steps this week to delay hitting the governments 16 16. 4 trillion Borrowing Limit. Treasury will take several measures to save that next year to keep the government from reaching the limit for about two months. But geithner warns it is harder to predict how long the delay will last because of all of this ongoing fiscal cliff negotiations making it harder to forecast what revenue and tax spending will be next year. The journal says right here the white house and congressional leaders have shown no signs of progress in the senate or elsewhere. And then, you know, i dont think weve run this bite enough. Tim geithner told Steve Liesman. I have it ready. That he is we should show it mu