Biggest gain since june of 2012. Crude prices rallying. Now 6 as you can see to 47. 41 on west texas crude. Weve given back some gains. The gains we saw on the settle. Nevertheless, enough po move theto move the markets off the low. Meanwhile, its the hottest ipo weve seen in some time. Were talking about shake shack. Up 132 or nearly 28 from its opening price. The burger destination causing a big commotion in the neighborhood. These are the lines outside until just about an hour ago. They had set up popup locations for the ipo assignment. They were free, open to the public. We both couldnt believe how long this line was. Look at it there. Stretching all the way down broad street. The valuation i read for where were trading on shake shack, 26 27 million per outlet. Not bad. Well watch as they continue to expand. By the way, guys down here on the floor arent too maple leaf. They didnt get those shake shack burgers. They didnt get them. Jpmorgan was the lead underwriter for the deal here
And it doesnt look like well see nasdaq 5,000 today. Before all of this point talk the nasdaq 5,000 was the level we were really watching. Of course, we dont know what can happen in the final minutes but we are off 22 points on the session which puts us what do you say, about 35 points away from that key level. Again, the record closing high is about 5049. Not going to get there at the end of the february. That gives us a target for march. The same day, possibly, bob that we hit that level previously in 2000. Meanwhile, the biotechs have been a leaving driver of the march to nasdaq 5k. Up nearly 300 over the last five years. Some see a bubble in the sector. We will have a debate. And word came just a short while oak aboutago about the death of Robert Benmosche. We have about an hour to go. Lets get more on what has been a huge month for stocks. Joining our Closing Bell Exchange we have. Beth ann from s p and mike mcqueen of high tower. Of course, Rick Santelli always joining us. Mike,
Is what im talking about. Its been a bad february and this is the first trading day of the month already here kelly, so its not getting off to a great start with the dow down almost 2 following a 2 slide in the nikkei overnight. And, bill just so people can get some context around what were seeing this looks like the worst start to a month in terms of percentage losses for the dow, for the s p since 1982 and for the nasdaq potentially ever at least going back to 1972 as our data does. Lets talk about this. I mean its clear that this market is struggling in 2014. What does it mean for you as an investor . With us today, gina sanchez from chantico global. Michael gued anthony chan from chase. And our own Rick Santelli. Michael, we have been talking for months about the need for a 10 correction in this market that did so well in 2013. It would appear its under way. It certainly would appear, and i think its actually perfect opportunity for investors to reposition portfolios. Going into th
Deals, looking for some specials. Well, yes. Ill go online. Ill shop all day there. But coming out here . I will say, were finding some stores are doing a lot better than others. Yes. Its very hitandmiss. Well be talking about that over the next couple of hours here. Because thats the Real Advantage of being here, bill, the shopping mall. We should mention, as youre out across the country, you are being watched. There are analysts here. There are retailers who are measuring traffic with digital devices and just taking a look at the shopping bags. I mean, this is actually where the research happens, for people trying to figure out who the winners and losers are today. We walked around the mall before the show. We met two analysts scouting around to see what was going on. Well talk about that coming up. Meantime, weve got morally going on wall street. The dow and s p in railroad territory, up 45 points on the dow. We were up 76 earlier. Nasdaq up 32. Another 13year high there, and the s
Ability to keep their kids on their Insurance Plan till theyre 26 1,000 500 discounts on Prescription Drugs for seniors on medicare. So, 85 of the population whether they know it or not over the last three years have benefitted from a whole set of the provisions of the law. By the way if it were to be repealed, you would be taking away all those benefits from folks who already are enjoying them. You had this subportion of the population, 15 , who either dont have Health Insurance or buying it on the individual market. And thats still millions of people. And what were doing is creating a marketplace where they can buy insurance and we can provide them some tax credits to help them afford it. The basic structure of that law is working. Despite all the problems. Despite the website problems, despite the messaging problems, despite all that, its working. And, again, you dont have to take my word for it. Weve got a couple Million People who are going to have Health Insurance just in the fir