Connell there is not any good news. The super bowl is a blowout, the market is down 150 points. Dagen i was not even written for the broncos. Connell hopefully we can cheer you up for an hour or so. Dagen what have you got . This market cannot catch a break. All about dumping risk and fear is back. Nicole petallides with more. Nicole that is right. I will get to that in a moment. The dow, nasdaq and the s p down arrows, all three down a percent or more. 15,547, so that is a loss of 1 . The s p 500 down 17point sitting at 1765, a loss of about 1 . Bank stocks and retail stocks, transportation lower. Utilities, the safe haven of utilities seem to be doing well, they are the one winner along with health care for 2014. You mentioned the vix, we have seen that crossing the 20 levels. We could settle at the highest level since october 8. And pfizer doing well on developments on the Drug Development for breast cancer, that is good news, that is why you are seeing it as a winner. Back to you.
At this very moment, 3 00 p. M. Eastern. The last hour of trading. You will know that song, im having a bad, bad day by the movie despicable me. Quite a few are probably feeling that way right now. Low of the session for the Dow Jones Industrials down 312 points, we are just slightly off that at the moment but there is a lot more to this story. The Dow Jones Industrials tumbling to the 50 Day Moving Average and went below that, the gray line you are seeing right here. Now were getting close to a similar trajectory for the 200 Day Moving Average, and that is the blue line. It becomes problematic. Why does this matter . A closely follows the chart and what they do is they set they sell order to trigger once these levels are broken as they suggest a trend to the downside. The triggers has been hit, in the meantime we should mention auto sales which have had a huge run recently ran out of gas but not for every auto company. Ford and gm, yes, a drop in january sales due to the extreme janua
And Reynolds American moving of 0. 23. So forget what i said about decisions have a huge impact on stocks. And remember convicted ponzi scheme mastermind Allen Stanford . Remember him . High Court Considering to shut down classaction lawsuits from investors. The ver victims who lost billios investing in a 7. 2 billion scam. The justices are expected to rule on that case sometime next year. This is massive breaking news. But you never heard me say this. Putting the pressure on a stock right now. Nicole petallides on the floor of the New York Stock Exchange. What is this about . Nicole lets break the news right here. Talk about the wellknown of boots, ahead of this company. The shares are to the downside nearly 7 lower. There have been talks based on some surveys, warning the sales trend has been dwindling, and so now the question is if the company is using sheepskin substitute. That may be for some of the boots. Do you want uggs if it is a substitute . Maybe you do, maybe you dont. Mayb
Now gms getting in on that. Connell top of the hour. Maybe a little upset about washington. Nicole petallides on the floor of the New York Stock Exchange. Nicole definitely seeing a sense of frustration on wall street got into the second week of trading that the government hasnt come to some sort of resolution. In the meantime the market has just been drifting lower. We are down 81 points, however it is just that kind of sentiment you dont feel like testing the market all 10 sectors are to the downside, still uncertainty looming about october 17 that silly and our Credit Rating and economy, not getting economic numbers into even get a gauge of how things are going so really the whole thing presents a real wild card. Breaking into key support levels selling upon selling. Connell thanks. To the ticking time bomb of Social Security Disability Insurance fund is front and center again. Wall street journal reported this is from the journal for years now, the fund would need to make cuts in b
February trading starts today. Stocks will open dead flat. Not good. The postsuper bowl presochi edition of Varney Company is about to begin. [ male announcer ] this m has an Accomplished Research and Analytical Group at his disposal. But even more pressive is how he puts it to work for his clients. Morning. Morning. Thanks for meeting so early. Oh, its not a big deal at all. Come on in. [ male announcer ] its how edward jones makes sense of investing. Good kick own a hop and harvin takes off and gets free. Percy harvin, inside the 30,s going to go, touchdown seattle. Stuart and he went all the way. And percy harvin returning the second half kickoff for a touchdown and thats the moment the game for many people ended. Is that when you stopped watching. The seahawks went on to win 438. It was at best, very best a lackluster game. The best thing out of the game were the comericas, some, just some hit the spot. The budweiser puppy love commercial arguably the most popular, got 34 million v