or is there something around the corner? john, what do you think? i think it s definitely overdone at this point. we talked about it. market is overdone at this point. we talked about it a couple weeks ago, market didn t believe that sequestration was going to be some major problem. it was more just talk, but now we see it s not a problem. we ve already went through it. more and more guys on the bear side of the market. this could be the opportunity for a pullback and retail investors should take more caution. neil: you would remind me, the market goes up and up. maybe pause was in order here but what are we really looking at? we are looking at the facts that the market has been establishing areas of value. sprinkle nl we break down? of those areas, anyone that is saying i think it s gone too far
recession ear type of scenario. the deal we re talking about, we hear the phrase grand bargain, could never get one done. is this more kicking the can down the road? at leastly deal we re talking about now, the one john harwood describe, it s kind of cutting the can in half and kicking half of it down the road. it would result in very large tax issues, the ones we were just talking about. even the mini deal they are discussing now, would prevent the expiration of the bush tax cuts on 98% of households, many cuts we were just talking about i m sorry. many tax increases we were just talking about wouldn t take place. it s not a tiny deal. but leaves off the larger issues of tax reform and entitlement changes that are more part of a grand bargain. we are talking about this countdown three dysaway. the market didn t respond too well to this. the dow, s & p, nasdaq, down 2% for the week. we think about investors and
able to sell their shares, that s coming to the market. you must recall yesterday that facebook was also operating in a broadly weaker market. shares across the board sold down on the back of what we saw on the ecb. hopes running high that we would see further stimulus from mario draghi, but he did what the fed did, sitting on the sidelines. not in terms of the interest rate being cut or bond purchases. apparently we must wait until possibly september for further action. let me send it back to you. karen, let me ask you a quick question. given facebook s declining value, is there a sense that the market is losing confidence in facebook? is that what we re to read into all of this? yeah. i think that the market didn t have much confidence in the stock initially right from the word go when it hit the market in terms of the listing. it s a very strong brand, but in terms of converting that into monetary terms, where do they get the revenues from? they haven t been alled to successfull
living. they should pay their tithes examine offerings like everybody else. i don t think taxpayers should have to pay for that. not for free, anyway. reporter: for now the policy remains in a cool district with a unique mix of brain and beauty. gary tuckman, cnn, buffalo, new york. and we continue along here. top of the hour. welcome back, i m brooke baldwin. a couple stories. you better check your accounts. dow hits a big milestone today. and protesters shout death to america in the streets. time to play reporter roulette. allison, i want to go straight to you. at the new york stock exchange, we ve been talking about how we ve been flirting with the number. we hit it today, the magic number 13,000. i know we talked about how it s psychological in terms of importance, but it s more than that. it is more than that. yeah, it is an important that psychological mile tone, but it s also a confidence booster. the average person, brooke, looks at the dow as an indicator
retailers report sales jumped 5% but luxury and discount stores did better than stores in the middle. cheapest mortgage rates ever again. this week average 30-year fixed 3.87%. the market didn t move much. dow was down 11, nasdaq gained 12 and s&p 500 up about 2. deadly freeze is slamming europe. it has killed at least 114 people. most victims from ukraine and most were homeless. they sent up tents to try to help. know snow and ice attracts people in villages in some cases with no electricity. only way to get in and out is by helicopter. hundreds of people stranded in eastern bosnia. in bulgaria, more than a dozen towns lowest temperatures since they started keeping records 100