Groups for the First Time Ever so whos getting liked or not . Power lunch starts right now welcome back a nice rally this hour major averages on deck the nasdaq 100 is up more than 1 its led by apple, amazon, microsoft and facebook apple also helping to drive the dow higher you can see more than 1 gains across the board there materials also a winner today. Fr freeportmcmoran helping to fuel the gains. D Discount Shoe dealer dsw soorg about 20 . Coty is down 14 after the company missed 15 on the bottom line thank you. Lets begin with your money. As michelle just laid out, the bulls are back in charge fear is down stocks are up. Technology leading the way lets find out why the optimism is popping back up i think this is mostly about tax policy talk about tax policy finally coming together. Maybe a few other things thrown in as well it was quitely opened and we opened really strong 5 to 1 advancing the stocks. More buyers than sellers the buyers being very aggressive they got to raise the
Referendum rapidly approaching. Lets get to the stories you need to know about. In london where oil tops 50 a barrel. Jodi schneider in japan. And mike mckee right here in new york with the latest fed talks. The rally continues in crude. Brent toppinggh, 50 a barrel for the first time this year. Javier blas, talk to me about driving things toward and barrel. Alter javier we are losing some had thousand barrels a day in nigeria. 700,000 barrels a day in nigeria. In the background is the demand that a strong. Everyone is driving a lot in the u. S. That combined with supply outages is bringing us to 50 a barrel. Jon i want to talk about debt supply. A 9 billion auction what does that tell you about Market Conditions . Javier the pain for the producers has been really acute. You see qatar borrowing 9 billion. They have a big production, relatively reduced population. It is not a country you would expect to be in trouble. That at 50,ing us the problem is not over. Although the markets have
To materialize. I think thats whats behind many of the movements in todays terrific session. The s p climbed and the nasdaq jumped up. Lets start with the most salient positive that was a negative, the banks. Heres a group thats a largest part of the s p 500, the financials that is not supposed to be going higher. They always seem to have some number, statistics, some government investigation that just hammers the heck out of them, crushes them beyond recognition after they report and we end up resenting that we owned them. Last week i highlighted bank of america as a potential breakout using the work from technician extraordinary tim collins. Do you know what kind of flak i took for that . On twitter i think i caught holy hell for this. I have a whole chapter devoted to them in get rich carefully but ive never seen such a negative response to my decision to highlight it. With all the talk of tapering and the chatter of the Housing Market it was natural to think this would be a year th
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