Short those names in the Holiday Season . Broad market is lower despite the gdp number. Well get the view. Bombshell ticktock in the New York Times. Futures off the lows after the release of the final preliminary hearing gdp report from before the president ial election. Data showing the economy grew 2 in the Third Quarter. Thats above expectations and up from 1. 3 we saw in q2. Numbers were boosted by Consumer Spending and defense and a big part of this, well see today whether were still in an environment where people question data clearly gdp is more hard to manipulate than the jobs number. I thought the same. As soon as numbers came out, i said the people who do not like obama will say this was padded by five more planes sold. This one was padded by an error that will be reversed or california counted twice. Were in a weird mode. Whatever it said, if its positive, its a lie. Im not buying that. These are good numbers. Reverse the market. Its for real. Good or just not bad . Not bad.
But those earnings, not least apple last night, failing to give the bulls enough courage really to drive the market higher. We will see how we fare during the course of the next 60 minutes, sue. Back to you. As you just mentioned, positive news on the economy ahead of the elections. U. S. Gdp growing faster than expected. It looks like consumers are hanging in there. But corporations are still sitting on the sidelines. Our Steve Leisman is here to break down the data and look at what it all means for the economy ahead. We saw from the data this morning a split economy with consumer growth hanging in there. We saw that also with this mornings confidence numbers. Business investment though is flat to down. The best part of the 2 growth number is that it is an improvement from the weaker 1. 3 figure from the second quarter. And the housing we got started to show up in the broader economy. Heres how we got to 2 prg . Consumers, 1. 42 Percentage Points to the gain. Business, investments and
Device some of the signs before your portfolio drops 10 , ahead of the exits. Power lunchs top five business and finance stories of the year. Well have one every day this week. Today the fifth biggest business story in our judgment of 2013. First, though, lets check in with sue at the nyse. Thats going to be a fun series, ty. Thank you. After today just ten trading sessions left in 2013. Tyler gave us the big picture this market up big today, Mary Thompson here with the specifics, gain of 133 points not bad for the bulls. Not at all. Been up big since the open today. The markets coming off an oversold position in todays session and moving higher. From the get go leading the way strength in energy stocks, oil higher and upgrades over at Goldman Sachs on exxon mobil as well as fmc it technologies. Those are the leaders. The s p leaders, deals including the acquisition of lsi for 6. 6 billion giving a lift to its stock, expedia, positive comments there out of ubs which says that investors
But at this point it has decided to shut trading all together. That happened after it had conversations with other u. S. Stock markets and with u. S. Regulators, including the sec. And this is the first weather related shut down since hurricane fwlor i cant back in 1985. The cme group is running its urk of usual futures session from 6 00 p. M. To 9 15 a. M. Eastern. You will be able to see the stock Index Futures throughout the morning. They are under pressure right now. Cme will be shutting down trading after that time. So depending on the impact of the storm, its possible the same scenario will be repeated this morning. Three companies have canceled earnings reports. Pfizer, nrg and entergy. The government still planning to release personal income and spending data at 8 30. The question is did they decide to shut down the electronic portion because the s sec and others said we dont know whether the system unto itself will work, or they did taest it back in march. And they were undete
Hey there, everyone, im alex witt at msnbc headquarters in new york city. Its 1 past the hour of 1 00 p. M. In the east coast of the u. S. Hatitiesberg one of the many areas in the southeast damaged by Severe Weather this weekend and the death toll now standing at 15, 11 People Killed in georgia and four in mississippi. Power li powerful tornadoes are being blamed for these deaths. The governor had declared a state of emergency in at least 7 counties, parts of florida and alabama also facing threats of Severe Weather this afternoon. In valdosta, georgia, a damaging tornado destroyed dozens of homes. Reporter i just spoke to a person who suffered some very severe damage. A home knocked down, a home standing, frees then stripped of bark, pieces of metal wrapped around their trees. So the area where theyre seeing is very clear, they say you can see the path that this tornado took through in the middle of the night, the good news for the moment is that the rain has stopped, it is calming d