Strong week for the markets, and strong broadbased tech, and financials down the list, and it is big against a big backdrop of the oil hitting 50 this week, and the fed chair speaking in an hours time, and josh brown, i go to you first, new highs in the offing . We are not that far away . We are not that far away, and what is really, really great about the positioning that we are seeing here is that the advance of the climb line, and it is absolutely cooperating and breaking out in and of itself, and you have a lot of the small and the midcap issues getting the job done, and it is a marked contrast to last time we challenged the levels, and way different from what felt like the end off a bull market a year ago, so it is a Long Time Coming if we punch through, and one very clear positive is that it is a lot of stocks hanging out here, and not just, you know, the nifty nine or fang or Something Like that. And you know, serrat, you have apple back to 1,100, 100, that is a closely watched
That is chairman dan doets coats of indiana. Yellens testimony in which she basically expand odd her case from yesterday that the economy is Strong Enough for a rate hike in december. Talked about the welcome signs in her words of increases in wage growth in this country and, of course, the spike in the dollar over time. Thats it for us here on squawk alley. Its noon on the east coast. Lets go to the fast money half at hq, and scott. Scott. Okay, carl. Thank you so much. Good afternoon, everybody. Im scott whop ner. Want to welcome all of you to the halftime show. Were following several major events at this hour. The fed chair, as you know, wrapping up her testimony just moments ago. Were also waiting for a briefing out in San Bernardino, california, following yesterdays mass shooting. Whether dont you give us the headlines first in testimony and answers to the q and a which largely mirrored what we had already heard where heed at the Economic Club of washington d. C. Yeah, good points
Markets and whether its that disappointing pmi number in china overnight or that north korean news. Investors are in a sell first mood yet again today. Stocks dropping right from the get go. Remaining under pressure. You see now the dow is down some 200 points. 1. 25 . Each of the major averages under significant pressure today. Dr. Jay, i go to you first. I mean, people are making a big deal about north korea and the impact that ago on the market. The nuclears test, stooefb just tweeted out a great chart about it. People should take a look and see what the reaction has been after north korea has tested nukes. Nonetheless, people did perhaps china and whats more interesting to me, scott, is earnings. The earnings season just about promised. That is far more of a driver than a one day event like were seeing right here. In other words, fed and the north korea both full of bluster. Not going to matter. Trok at the 20year or the 30year rates. Take a look at tenyear rates. Kevin oleary, you
Into the close here. The action really occurred overnight. 9 00 we got word about Nuclear Tests by the North Koreans, and we also got word that china said its currency fix lower. I think that was a major factor. Modest expansion and new lows. Almost 200 at the nyse. Havent seen that in a while. The autonation ceo talking about the dealership. Thats a new low for autonation. The carmakers are being affected by that announcement as well. Whats holding up . This is looking a like 2015. Those old consumer names that did so well, the rentals and the conagras and the tysons and dr. Pepper, theyre the ones, again, fractionally on the positive side. Gold subpoena, and i do want to point out that while the Spider Gold Trust is on a fiveyear decline, the volume is fairly heavy today. Much heavier than normal. Twice the normal volume. Even though it may not be moving that much, guys, the volume interest is very high. All right, bob. Thank you very much. Bob pasani on the floor. More on north kore
Continuance for september 10, 2015, but i believe we discussed that to september 24th at this point. Any Public Comment on item the one item proposed for continuance not seeing Public Comment is closed. Commissioner richards move to continue item one to accepted 24 on that motion to continue item one to september 24th commissioner hillis commissioner johnson commissioner moore commissioner richards commissioner wu and commissioner president fong so moved, commissioners, that motion passes unanimously 6 to zero and places us under the consent calendar for items 2, 3 a and 3 b i do have one speaker cards for item 2 a mic a ma sell florlz we will is have to place it in others regular calendar. Items 2 and 3. Right for the San Francisco west side kriejdz Environmental Impact report okay. Well have to pull that off of content and put it on the regular calendar that pulls 3 a and b off consent we cant act until the Environmental Impact report is soundproofed. Okay. Thats outlook. Shall we pl