What a way to end the week. It was a melt up into the closing bell, which drove stocks to alltime highs. The s p 500 had its best day since march, lifted by continued optimism that Economic Growth around the world is on an upswing and a new batch of strong earnings. Of the s p 500 companies that have reported profits so far, 80 have topped expectations. Today shares of intel helped lead the way with a double digit gain following its Strong Quarter that we told you about last night. Here are the closing numbers. The Dow Jones Industrial average rose 223 pints to finish at 26,616. The nasdaq climgd 94. And the s p 500 added 33. For the week, all of the indexes saw gains of more than 2 . The rising stock market was not lost on President Trump when he addressed attendees at the World Economic forum in davos switzerland. He talked about the economy, and growth, and in a widely anticipated and high stakes speech told investors and ceos across the globe that america is open for business. Mish
From the record highs. The dow is now down nearly 15 . The s p is off 12. 5 . Check out these staggering figures. S p 500 companies lost another 900 million in market cap yesterday. They lost nearly 2 trillion in market cap over the last seven sessio sessions. You see rich people lost 185 billion recently. This is good. This income inequality thing. Taking care of it. This is not i also like the now were going to do this every day where we can close on change but if thats not interesting enough its like a fit bit for the market. Its not even the range anymore. Its brand new. Were talking about the full ride. We moved 100,000 points this week. It means nothing. We totalled it up for you. Lets tell you where the u. S. Futures are after what was a wild yesterday as things got pretty bad late in the day. Well try to get an explanation from our guests throughout the morning but the dow jones does look like it will oip up now 275 points up. S p 500 would open up higher as well. 33 points hig
We will have more details. Everybody seems to be cutting prices. Wireless carriers, online brokerages, but costco is going the other direction and raising its membership fee. Investors not exactly happy about that. Stock is down 4 right now. We have both signs of whether todays drop is a buying opportunity for investors. Thats all coming up here. And making work cool again. Mike row, the former host of dirty jobs testified to congress about the importance of blue collar ones. He will join us live to discuss closing that gap. I always liked mike. Very nice man. Start with our interview with wilbur ross on squawk. Hope you saw it. Kayla tausche has highlights for us. It was a wideranging conversation, but much of it focused on trade because secretary ross said that the president has trade top of mind for what ross will be doing over the next four years. Getting rid of both tariff and what he calls nontariff barriers to trade. They sort of took a trip around the globe and explored the cas
Stocks falling right along with the price of crude. Dow is down 160 points. We begin with new questions about the strength of the banks and how much exposure they really have to the continued commodities crush but its one firm in particular today, jp morgan that has investors growing more nervous. Its stock is sliding as jamie dimon holds court with wall street analysts in new york city. Kayla joins us now with more. Oil is hurting jp morgan and other banks faster than we thought. Yeah. They are taking up their estimates for exactly how much it will hurt them. Its worth saying they did sound token optimism on the us. Economy. Ultimately the noise in manufacturing and corporate end earnings will get sorted out. Jp morgans Energy Exposure they layed it out pretty specifically. 25 billion for investment grade. Only about a fifth of that has been drawn down. High yield 19 billion. Its the high yield portion that is what investors have been worried about. Those are the lower quality borrowe
Right now and thats what the markets rallying on at the moment. Pore sure. Were focused on reopening of the government. Market continuing to see flows into stocks. Take a look at investors cannot take this weekend off. What happens at the white house between president s and republicans could determine what happens when that bell rings monday morning. If the deal goes sideways, so could this market. Well be talking with republican buck mckeon, who was in the room with the president when the talks began in earnest. Jpmorgan, they take a loss. Ceo jamie dimon not at a loss for words. Billions in litigation fees and legal problems swinging his bank to that loss for the quarter. Hes now speaking out, suggesting the government is not being reasonable or fair. Well have more on this still developing story coming up on todays closing bell. Lets check the stock market as we approach the final stretch for the week. Dow jones industrial average shy of the high of the day with a gain of 8 5 85 poi