Tech sector to prevent the next strike. All that and more tonight on nightly Business Report for monday, january 13th. Good evening, everyone. A troubling way to kick off a new week of trading. A major selloff on wall street today. What triggered it . Anxiety about the first batch of earnings from big corporate heavyweights that are coming out this week. A Goldman Sachs report saying stocks are too pricey. And to top it off, more comments from a top Federal Reserve official. That was enough to give strors jirts. The dow posted its biggest oneday decline in more than three months. The blue chip dow stocks tumbled 180 points, a drop of almost 1 . Nasdaq fell harder, losing 61 points, or 1. 5 . And the s p was down by 23. Bob pisani has more on todays Market Action and trader talk about the new york stock exchange. Reporter stocks started mixed but moved lower midday and closed essentially on the lows for the day. Goldman sachs issued a report on stocks saying valuations were lofty by alm
back and investing in america and manufacturing is adding jobs for the first time since the 1990s. we just had another good month last month in terms of adding manufacturing jobs. and this facility is part of the evidence of what s going on all across the country. this company is about to hire more than 200 new workers, 140 of them right here in petersburg, virginia. so the economy s getting stronger. and when i come to places like this and i see the work that s being done, it gives me confidence there are better days ahead. i know it because i would bet on american workers and american know-how any day of the week. the key now, our job now, is to keep this economic engine churning. we can t go back to the same policies that got us into this mess. we can t go back to an economy that was weakened by outsourcing and bad debt and phony financial profits. we ve got to have an economy that s built to last. and that starts with american manufacturing. it starts with you. for genera
i m tyler mathisen with sue herera and brian shactman. the friday edition of power lunch begins right now. i always forget it s friday and tyler so lovingly reminds me. it s friday. we heard from bernanke and buffett this week. a slew of economic data. but the big one, jobs, actually coming next friday. markets looking for some direction although we are on the downside. the dow down 30 points. we were positive for a while as was the s&p early on. down .3%. tech the laggard after leadership down .4% and below 3,000 on the nasdaq. pulse of the market, oil giving up some gains. oil now under $107. gold up more than 3% for the we re. and the euro a big story now getting closer to 132 down the same for the week. midday movers, there it is. more than 60% to the upside day one as a public company going quite well. wynn is another one we re following. the action in wynn has been unbelievable. the company filed a land contract by mistake. jane wells working that story. the stock
and i m tyler mathisen along with sue herera. power lunch begins right now. i m courtney reagan at the realtime exchange. welcome to power lunch. a mixed bag of economic news. ben bernanke not changing his tune on dropping new hints about qe-3. but markets on the upside. take a look, green across the board the dow just under a hair of the 13,000. and the nasdaq less than ten points from 3,000. let s see if we can do it. let s take a pulse of the market. the vix as you can see is lower by about 5.2% under that 18 mark. the 10-year treasury above 2% on the yield again today. natural gas falling further down almost 6%. getting crushed on those inventory numbers. midday movers, take a look at these green arrows. gap surging to new high for the year. sales beat estimates. that was a surprise. goldman sachs up as well. raising price target on the stock. and monster worldwide way up as you can see more than 20%. their ceo says the company is considering strategic alternativ
and ride the bull we must. plus the murdoch mess. james quits as chairman of news international. that s the newspaper division, the international one rocked by scandal. is rupert s control of news corp. in danger? all of that is straight ahead. i m sue herera with tyler mathisen. power lunch begins right now. welcome everybody. join me at the wall here as we look at red tiles on the board. q-4 gdp better than expected. the chicago pmi, a 10-month high indicating business conditions in the middle of the country are better than expected. but bernanke is still cautious on both the economy and the need for qe-3. here s how the markets are reacting to it. and the reactions have been very interesting to watch. let s look at the pulse of the markets right now. let s look especially at gold. look at gold. lower after that big runup and a rise in the dollar and the reaction to bernanke. one of the biggest down days we ve seen in quite some time in gold, 1725. it was a good yea