Year e had the best week of the year last week. All three major averages are remaining higher even if it is only marginally so in terms of macromedias we did have data sales. The existing home we had a decline for the month that was larger than had been estimated. That is largely because of lean inventory. Not as many houses out there as people want to buy. At the same time however, we have holding permits last week that showed we could see boulders staying busy in the coming months. Existing home sales pulling back a little bit from a high level. Touching a twomonth high. The homebuilders themselves have been doing relatively well doing during the session. It really feels like commodities are what are leading the day. I was talking about it last week that based gold medals continues to be hammered. The longerterm correlation of oil and stock is not necessarily high rate but on an intraday basis but if you see oil reversed during the day, you tended to seek stocks going in a similar di
Higher and the dow nsc s p have turned very slightly lower. Remember it is a holiday week so we see trade down there take a look at the bloomberg terminal for the various group volumes. Here is the zero line here. Anything going down from here means volume is down to one exception is health care where we are seeing Trading Volume 40 over thean the average past 20 days. A lot of it has to do with the deals announced in the industry. Pfizer and allergan, 100 60 billion. Our is technically buying pfizer so it can be domiciled in iowa and get the tax benefits but as we talked about recently, there are questions about whether the u. S. Treasury will clamp down on h inversions nearly inversions. Hillary clinton commenting today. This is a specialty battlingtical Company Recently along with valeant about concerns on the specialty model. The companys earnings estimates and we saw a Strong Demand for various medications streak, things like lupus and critically ill infants. See the shares of 7.
Melissa yes. Hates bad news coming out of financials. I know wells fargo did pretty good today in their earnings. Jamie dimon didnt. What the market tells us as the day goes on starting to pick up losses. The word next week about Morgan Stanley and Goldman Sachs and some of the other financials, if they underperform, this downdraft were having in the market could turn into a 10 correction. Melissa jack what do you think. Ily it also has an awful lot to do with the glamour stocks, twitters and facebooks and teslas that were doing so well. Hey, if you will buy twitter 40 times future earnings, probably wont hit, why not own jpm at 11 or 12 times earnings . Those things lost their mojo and gilead, lot of their mojo. I think that caused investors to get a little worried about the rest of the market. Melissa hang on to your thoughts, jared. Well get you to in a second. I want to get to the exchanges to hear from our folks on the floor there. Nicole petallides at new york stock exchange. Jo
Commitments on Financial Assistance should not be caught up in bureaucratic hurdles here. A timelye to flow in way. As my chairman talks about, the market plan was not only about funding, it was also about active Technical Assistance. When we met with the government there, they welcomed largescale infusion of Human Resources in the country on all the major reform issues. They looked to the United States for expertise. They looked to the Diaspora Community for its expertise. They looked at the europeans, particularly poland, for its expertise. Poland is engage in constitutional reform issues as well. Service reform, after all of these issues, having Technical Assistance on a large scale embedded in ministries, and governments, offices, and civil Civil Society this is all welcome. We believe that International Engagement is critical at this time. Onto anothere topic, and that is russia. I had an executive in my office this morning i will not name the name or the company because i do not
Asymmetric strength is our economy for their asymmetric strength of some of our good ideas like these and the debate with ukraine could help with these ideas and that would go a lot further than some of the other ideas. May i ask each one of the witnesses just very briefly, dont have a lot of time on this question of Energy Efficiency and natural gas that we help with rivers flowing other issues but the real issue do you all agree this is an area we should zero in on and that will make the bigger longterm difference in any change in our Energy Market . Energy efficiency in the ukraine helping ukraine produces on natural gas is a good thing and i think we actually went that direction in 2012. The price for households pay for their heating gas is one sixth the price that ukraine was paying to import that. By raising the prices they are going to introduce a huge incentive for all of those households. Thank you. Absolutely. There are two major components along with others and i would inclu