Welcome closing bell, everybody. Really important last hour of trade. Im mandy drury in for maria bartiromo. Im bill griffith. The dow erasing half of its losses following word that the house is scheduled now to reconvene sunday evening, and, of course, thats helping to spark a turnaround on wall street. The guess is that maybe they will have something to talk about by that time. Maybe they will have a deal to vote on, but were not going to get ahead of ourselves right now. The dow down 70 points and was down 140, something in the lows. Now at 13,044. Yes, we were below 13,000 for a time. The nasdaq is down 17 now at 2973. And the s p 500 index is down eight points right now at 1411. So the tax cuts and spending cuts, theres fear of another u. S. Debt downgrade by the major rating agencies. Will that happen, and will it derail any hopes of a real economic recovery . In todays Closing Bell Exchange lee munson and jared bernstein, cnbc contributor and former chief economist under Vice Pr
Stocks selling off today after two Straight Days of gains. The dow is off the lows of the session, but we can see there it is down by 154 points. So by triple digits with this volatility translating into a good year for active managers. According to funds track, 52 of large cap managers and 73 of value managers are beating their benchmarks in the Second Quarter. Joining us now, bill nichols, head of u. S. Equity trading at cantor fitzgerald. It really hasnt been the greatest environment for active managers until now. Right, robert . Yeah absolutely mandy. I think thats putting it mildly. Right . For the last six years since the bottoming out of the s p in 2009 active management has gotten trounced. I think thats indicative of the environments. Everything across the board was cheap at that point so trying to pick a handful of stocks or 40 or 50 stocks was really a losing proposition. But today when you look at fair valuations across the board, i think now is the time over the next three
Lets get right to that sunday forecast with first alert meteorologist, Brittney Shipp. Brittney, rain really wont be a problem today, but it will be back this week. Thats right. It will be back as early as tomorrow. We are tracking storms as you head home from work on monday but today, we are going to see such nice temperatures. Its beautiful out there. In the high 70s, plenty of sunshine expected for us. Take a live look right now at cape may, just a Beautiful Day to head down the shore as well. Current temperatures starting off in the cooler side, if youre in the poconos, 41 degrees. 10 degrees warmer in allentown at 51. Low 50s in pottstown. 59 in philadelphia. 54 in wildwood and 52 degrees in trenton. Temperatures in reading at 53. Were in the mid50s for wildwood. Next eight hours, we will see our temperatures warming up nicely here. Back to the 70s by 11 00 a. M. In philadelphia by 2 00 p. M. 76. And our highs around the region today, philadelphia will make it to 79. 78 in allento
Stocks selling off today after two Straight Days of gains. The dow is off the lows of the session, but we can see there it is down by 154 points. So by triple digits with this volatility translating into a good year for active managers. According to funds track, 52 of large cap managers and 73 of value managers are beating their benchmarks in the Second Quarter. Joining us now, bill nichols, head of u. S. Equity trading at cantor fitzgerald. It really hasnt been the greatest environment for active managers until now. Right, robert . Yeah absolutely mandy. I think thats putting it mildly. Right . For the last six years since the bottoming out of the s p in 2009 active management has gotten trounced. I think thats indicative of the environments. Everything across the board was cheap at that point so trying to pick a handful of stocks or 40 or 50 stocks was really a losing proposition. But today when you look at fair valuations across the board, i think now is the time over the next three
Stocks selling off today after two Straight Days of gains. The dow is off the lows of the session, but we can see there it is down by 154 points. So by triple digits with this volatility translating into a good year for active managers. According to funds track, 52 of large cap managers and 73 of value managers are beating their benchmarks in the Second Quarter. Joining us now, bill nichols, head of u. S. Equity trading at cantor fitzgerald. It really hasnt been the greatest environment for active managers until now. Right, robert . Yeah absolutely mandy. I think thats putting it mildly. Right . For the last six years since the bottoming out of the s p in 2009 active management has gotten trounced. I think thats indicative of the environments. Everything across the board was cheap at that point so trying to pick a handful of stocks or 40 or 50 stocks was really a losing proposition. But today when you look at fair valuations across the board, i think now is the time over the next three