Building, which offset negative news from bank of america and citigroup. Gold and oil also gained groud following the attack in algeria at a natural gas plant. Intel took a revenue hit as earnings topped estimates. And today is the deadline to file caims under the National Mortgage settlement. The number to call and the email address are on your screen. Lets get a peek at the friday trade with john brady of rjobrien. Good morning, and the s p 500 above a fiveyear high, john. Can this last . What could hold it back . I think it is going to continue to last, and the reason is that the asset markets are moving in such a way where investors i think are just at the beginning part of selling bond funds and selling bonds to buy riskier assets in s ps and s p futures. So, for example, consider this at 182 yield on the 10year note, investors are paying about 54 times the coupon they will receive over the next 10 years, where if they go and buy the s p 500, they are paying about 14 times future
It rallied yesterday on strength from banking stocks. Overall it was a green day on wall street for stocks and commodities. In earnings news after the close, google glory not only were profits up at the Search Engine company, but ad sales are solid. For csx railroad, however, profits are chugging slower as the demand for coal is dropping. And british Prime Minister David Cameron delivers his highly anticipated speech today on the uks future in the european union. Lets get a traders take on earnings coming in from google and ibm after the close with larry shover of sfg alternatives. What do you think, larry . Traders were surprised. With ibm, no one thought they would beat with revenue, and they did. The big wild card for ibm was their service sector, and that must have beat street expectations. We rallied 2. 5 after the close. With google, a different story. It is true that ad revenue has gone down; however, there are more clicks on tablet devices, smart phones. So at the end of the da
Chris christies reelection fund. And the post office is pushing up the price of a stamp by one penny to 46 cents starting sunday. Scott shellady of trean group joins us this morning for a closer look at the markets. We have to talk about this 1500 in the s p 500. When will this finally hold here, scott . It is not going to take very long. It is not going to take very long for one big reason weve got to listen to what the fed is telling us. The fed is telling us that they are going to continue to print money. These pullbacks are going to be shallow. You are not going to see that 510 pullback i think a lot of guys are waiting for, so it will be within the next two or three weeks, and away we go again. What do you think about this north korea threat . How is that affecting oil prices . I think folks want to blame some of the price of oil on it right now because of that, but ultimately at the end of the day we have got a decent economy now that is slowly but surely i am not going to say it
Dropped 5, held up in part by a rally in ge and honeywell. The nasdaq dropped 23, held back by disappointing earnings from google and microsoft. The s p gained 3 points. Gold moved up 11, and Oil Pushed Higher above 108. A google mystery unfolds this week as the tech giant reveals a new product wednesday. The oddson favorite is that a new tablet will be unvieled. And, sakes for sale shares zipped up 8 friday on a report the retailer is attracting several bidders. A judge is giving the okay to toyotas settlement payout of 1. 6 billion for 2010s sudden acceleration problem. Tim mulholland of chinaamerica capital is here to get our week started. Good morning to you. Good morning, angela. What will traders Pay Attention to this week . What matters most . I think that this should be a fairly quiet week, because next week is going to bring the unemployment report, and i think that will be a real big focus of the market. But this week, durable goods is probably the main economic report, along
2012. Its due in part to a breakout above 450 in apple. In other market action, the dow and the s p stayed near the flat line as Traders Await the Federal Reserve meeting that gets underway today. Gold pulled back 4 and oil lost 1. 45. Jc penneys backtoschool traffic is picking up at least on its website. According to a research firm, jcp is number 2, behind walmart, in traffic on its site featuring backtoschool items. And Community Health systems heals a deal by paying 3. 9 billion to acquire Health Management associates to create a giant hospital chain. Larry shover of sfg alternatives is among the many traders out there preparing for this weeks fed meeting. Good morning, larry, and do you have a timetable on this tapering . Were hearing september, but has the market already baked this in the cake . You know, i think its baked into the market. People have come to terms with the fact that there is going to be tapering, but theres a vast difference between tapering and tightening. So,