S p up 13 of the past 15 sessions. We do have a fed decision this afternoon. Even initial reviews of the apple ipad air. As we monitor the hearing this morning in washington, lets get to jim. First, broad markets, weve not had a run look weve had this month in a long time. Whether youre larry fink or others, people asking serious questions about when in ends and how it ends. You keep thinking it should end and then General Motors comes out with a quarter that says, hey, listen, were back, too. You keep thinking it will end and then i sit back and listen to some of these Conference Calls and various industries. Buffalo wild wings. You can say theyre small potatoes but theyre blowing the number away. Gilead last night, a remarkable quarter. I keep getting stunned by the facts, even though the thesis should be were too far too fast, the facts keep baring out the rally. Not to mention the fed is not likely to taper any time soon, lets say. There are those like fink who are saying maybe wer
Its 30 below normal, but we continue to inch ever higher toward 17,000 on the dow. I think for me, the story is really about what an historic year and historic rally this has been for stocks since the 2009 lowin lows. The world looks better where we created 3 or for 4 trillion, the fifth best rally in terms of a bull market. If it keeps going next year, it will keep getting more impressive. Thats very different from what people had anticipated. Were going to keep an eye on that as we move into 2014. We have people expecting some corrections coming up very soon. Yes, they are. Its also, by the way, a time to focus on the housing sector in particular. Even as were talking about what a great year its been for the market, take a look at this bar chart. Its the 30year rate for the last 12 months. If you notice the trend, its clearly upward. What happens if this continues into 2014. Will Housing Markets stay hot. If not, what will that mean to the overall market . Thats one example right the
Have to talk about what transpired this year. This is the year we went from the bear market with some bullish advances to an out and out full blown bull market. This was the year where we finally vanquished the demons that haunted this market since the nasdaq top at the beginning of the millennium. This was the year where things worked out where hard issues were resolved positively. The house of pain. And good news translated at the end to, yes, good news right down to todays action where the stock market toasted a fantastic 4. 1 Gross Domestic Product game. With a darn good rally. Nasdaq soared 1. 15 . You should have seen the action in that index. You might be shocked to hear that we only just went into an all out bull market mode this year. After all the Dow Jones Industrial averages run for 6,600 in march of 2009. It hasnt happened in the bull market, the gains have been consistent, right . But i would contend until this year, all we did was make up the ground we lost in the crash
Call me, 1800743cnbc or tweet me jimcramer. When the Standard Poors 500 breaks out to new intraday highs, like it did today, your most important job is to play the skeptic, to don the bear suit, to poke holes. On days where the dow falls 196 points, before reversing hard in the afternoon, closing up 106, while the nasdaq advanced 0. 69 , the last thing you should do is cheer leid. You dont defend a market thats roaring higher. You come to the markets defense when it gets clubbed, as it was just a few weeks ago. With the averages down more than 5 and half the s p off 10 or more. So, lets take this roaring market as a terrific opportunity to go over not the bull case, but the bear case the reasons why the market stho shouldnt be this high, shouldnt be. First, theres valuation. Now, theres no doubt this market is stretching the bounds of reasonable prices. The average stock is selling for 17 times earnings. And let me just tell you, you might not understand that number, but its certainly
Heres sara eisen at cnbc Global Headquarters and Tyler Matheson in chicago. Good afternoon. The markets are up big. The dow gaining 230 points in just two days. Im here in chicago as was just said, at the morningstar annual fund manager of the year award. It is perhaps the biggest event in the entire mutual fund industry. Think of it as kind of the Golden Globes minus the alcohol. I will be somewhere between tina fey and if you watched sunday night, jacqueline bissett. Rea we are joined by the best managers in domestic stocks, International Stocks, Asset Allocation, fixed income and this year, alternatives. We will find out what they owned last year, what theyre doing this year and you will want to be asking yourself why the heck am i not in their fund if youre not. If you are, listen to this, our Domestic Fund manager, if you put 10,000 in his Small Cap Fund or his teams Small Cap Fund 15 years ago, 10,000 would be worth more than 50,000 today. And in the international category, that