Portfolio funds, and our own rick santelli. As mentioned, were seven points out from an alltime closing high on the Dow Jones Industrial average. Karen, whats it mean to you here . It means that we could definitely go higher. Its just a number, and everything is coming in better than expected, Economic Data, corporate earnings. So, i see us going higher for the rest of the year. Looks good. Everythings coming up roses. Michael pagino, do you agree . I would say those are all true, but for every one of those positives, theres a negative. You know, housing has slowed down, equity prices are not cheap, theyre fairly valued. So, values are harder to come by in the market. Youve got geopolitical risk that i think investors are largely ignoring at this point, its impact on economics, because everybodys been focused on the u. S. And the fed lately. And so, i think there are some negatives, but i would agree, as long as the moneys easy and corporate earnings and top line growth continue, then
Today a pair of deals. Endo buying parr pharmaceutical and for just over 2 billion. And potentially a third in the making i can confirm that they have resumed talks around a possible deal. Well have more timely to help, tim cook tells graduates not to live lives on the sidelines while apple acquires a gps startup. The dow and s p just shy of new alltime intraday highs. The dow, as we said about 16 points away from record territory. People wonder if this is the breakout of the wedge weve been watching for so long jim. Its certainly possible. We saw things last week that were really kind of very positive for the market. One, Interest Rates were good. We need them higher because the financials roared last week. The other thing that roared were the health care stocks. We still dont have the transports. I know that i was doing some work on the oil lines on the train lines for oil, with rbn, which is my energy source. There theyre going to be challenged. So we need the rails, but the health
And hello again, everybody. Welcome to the closing bell. Im mandy drury sitting in for maria bartiromo. Happy boxing day as well. Christmas is over but mandy has been celebrating boxing day all day. We didnt get any presents from lawmakers in washington yet. Were still five days away from falling off the proverbial fiscal cliff and wall street, like everybody else, is waiting for some kind of a solution here, and as you can see by todays numbers the waiting game continues, although we thank Brian Sullivan and you, mandy, for bringing us back to positive territory in the last hour. Im not sure we can take credit but well take it. The dow is up a fraction at the moment. 13,139 after a meandering much of the day. The nasdaq hardest hit today. Technology has been very volatile recently. Still down a fraction right now. 13 points, fraction percentagewise and the s p is down 3. 33 at 1423. Five days left until the fiscal cliff deadline, and though the market has been very resilient to this p
But the bond market was plunging this week. And theres been some geopolitical concerns and moving to the sidelines. Well hold up here. Gold Holding Around 1,300 an ounce. Sam walsh of rio tinto is here exclusively. Well find out where he thinks the price of gold iron ore and those metals are going and what it means for the economy. Another bad day for General Motors. The government has imposed a 35 million fine on the automaker for his handling of the ignition switch flaw that caused certain models to lose power without notice. Now our phil lebeau will join us with the story. The incredible video of phil in up of those gm cars when it actually loses power. Its amazing and frightening. Youll get to sort of be in the drivers seat when this happens. And if youre wondering why 35 million. Its apparently the most the government could levee of on General Motors. Well talk about this piece of the story as well. Where we stand in the markets heading to the final hour. The dow is up about 33 po
Washington. Earnings after the bell, Restoration Hardware and h r block. How did your taxes work out this year . Its like a phone book, it gets thicker every year. Lawyers and accountants always make out. President obama delivered the worcester, Massachusetts High School commencement at 4 00 today. Its a very cool area. Clark university is there. Its a great history of mechanical engineering. And the Basketball Hall of fame is right there. Thats springfield, down the road. It is along 91. Treasury secretary jack lew is speeding at the new York Economics Club later today. The la kings just got off the bus and nobody smiled, they were all business. Scarlet saw the rangers drinking under a bar. Its do or die tonight. Futures were negative seven yesterday, the 10 year yield was higher earlier and the euro is driving friendly. I am watching oil, it is elevated. Crude 104. 67. Vxx is very complacent. There is the dow. You can see the brent crude nymex spread. I am looking for brent crude to