Ground in massachusetts. Andrew, over to you. Thank you, beck. Its a horrible story. Earlier he spent 88 million buying out the other half of the philadelphia inquirer. His son will now join the board, but other Corporate News this morning. Apple kicking off the Worldwide Developers conference happening today in San Francisco. Ceo tim cook promised the company will enter new product categories this year. Thats what hes been telling everybody. Among the announcements expected from apple are this. Details on the new operating systems because theres ios for the iphone and ipads along with the mac and what that is going to look like. We will also hear applications with a lot of news reports that the applications may let the iphone or ipad control parts of your house like thermostats, appliances and security systems. So well see what happens. A lot of people are looking forward to that. And General Motors could have a recall issued this week after details are released gm will disclose new s
that certainly was a disappointment. s&p 500 down as is the nasdaq. route now. maybe they are waiting on bernanke tomorrow. market has not moved all that much. earnings out this morning. citi among the bank stocks which are on the move today on the upside. closing bell exchange now where we will look at this market. we have bob pisani, rick santelli. josh brown of fusion analytics. paul shatz of heritage capital. oh. bob you have been on the floor all day today talking to trade traders. the market has not done all that much in the last couple of hours. retail sales, though, were very disappoint. worries about china slowing down. i think the market is holding up very well considering the concerns out there. two things i would say is number one, really helps that citi, wells fargo and jpmorgan came in all right and no disasters. number two, i just think there is an awful lot of faith in central bank policy. there is a lot of qe3 ers out there waiting for signs from mr
the nasdaq is up right now, a 29 point decline to 29-26, and the s&p is down at 1250. let s get straight to the market action here. and the and the sell off and what it means for people down the road. we have paul shatz, and dan greenhouse. good to see you all, thank you for joining us, paul, i want to kick it off with you, we re focused on the jobs number, but next month the earnings parades begin. how do you want to be positions? alcoa is presenting next week. how about jpmorgan. the markets should have a lit the bounce of monday, selling on tuesday and wednesday. i think this is a trading pull back. maybe it s 3%, 4%, or 5%. maybe we will close the gap from last week. maybe it s 1325 on the downside, but i think we re range bound. you re looking for a fall swon. dan greenhouse, you re defensive aren t you. we have been defensive for awhile. easternings season we have not focussed on earnings for some time now. certainly we will sift to an earnings season that
commonly called quadruple winching. stocks are holding on to gains. just off the highs right now. the do you was up almost 100 points, just off that now with a gain of 85. the nasdaq is also higher today with a gain of 26 points. up almost 1% at 2862, and the s&p is up 9 points, a 10 point gain there. give therein is a rebalance and expiration, can that will add to the volatility. we have an 85 point rally so far. do you want to be bracing for a round of panic selling on monday if the outcome of the greek elections have the austerity. let s hear from market watchers in today s closing bell ex-change. we have morgan stanley representative here, we also have rick santelli. why are the markets rallying going into a scary election for the world economy? you have the manufacturing in expansion territory. they re above 53. you had weakness in the fed and empire state manufacturing. that s basically been holding things down. i think maybe saying you see these election holes, s