Of banker andrew casperson, he appeared to have it all. Now he is accused of a 25 million fraud. How his employers and clients missed the warning signs. What a story that is but lets head to the market desk with julie hyman. We will take a look at the latest numbers. Julie Consumer Confidence for march is rising. This is the confidence number. The 94 which above was the earlier revision. Read and it doesnt tend to move the markets march but it adds to the general picture of the u. S. Economy. If you take a look at what stocks are doing today, as people await janet yellen speaking, lets take a look and we are seeing a pullback but not much. The nasdaq is lower as we go into the meeting. I want to take a look at other meetings to see what they are anticipating janet yellen saying. Remember in the most recent statement that janet yellen set a dovish tone that since then, we have heard from other fed officials, who appear to be more hawkish. Who say even april is on the table. We are seein
Microsoft and alphabet last week and debate whether apple can turn the tech story around. Global debate about apple. More on that in just a bit. Valeant getting a ceo the same week Michael Pearson is to testify on capitol hill. Also argentinas return to the bond market. Kay kelly will return and tell us what it means. After the bell, well discuss why nikki sixx is calling on president obama to go after youtube. You have nikki sixx and youtube, only on closing bell would you have that. We start in saudi arabia today. All right. We dont start in saudi arabia. So lets go to our cnbc Closing Bell Exchange with the dow down 61 points. Joining with us we have rob weiner, ben willis and Rick Santelli checks in from chicago as well. Ben, the tradition lately has held leading up to a Federal Reserve meeting that the market tends to rally. Not a hard rule but that typically is what happens. Is Something Else going on . Something else is going on. When its the fomc by itself but the problem Centr
Look at joy global, caterpillar, fears of a chinese slowdown. Copper feeling the pain. Are we starting to see the familiar fear of china and a chinese slowdown back into the market . Guy, what do you think . The last time the fear was in the market, that was a very bad time. The fear is back. But a lot of this has to do with the strength in the u. S. Dollar as well. A lot of this through the strength in the u. S. Dollar. A lot of people talking two fed rate hikes later this year. Im not sure im in that camp. I think the dollar is on a hair trigger to go higher. Coupled with the fact china is definitely slowing down. Coupled with the fact that a guy like David Einhorn last week talks about how caterpillar is one of his top short ideas. Coupled with the fact that these stocks have been on fire for the past couple of months. They all do set up for a move lower. In my opinion, nothings really changed, other than the fact that copper bounced and the market stabilized, nothing changed in the
If it holds. It could lead to a rally of sorts, and thats exactly whats happened here in the last hour here. We have a sense this was coming from the european session. You would have gone through the news flow about aid for Banco Espirito, some of the geopolitical stuff thats extremely troubling. Things would look different today. Not the case. Even oils struggling to catch a bid. Investors are awaiting a key Earnings Report from aig, due out in about an hour. It has a new ceo coming in less than a month and is trading at idiscount to peers. The numbers could definitely move the stock. Well have the information first and your analysis right away. All right, also, the president taking more shots at some of his favorite targets, namely wealthy businesspeople. I mean, if youve been watching television today, you know what he said. If you havent, then you will hear more of those comments where he told ceos essentially to stop complaining. Plus, well take a closer look at the president s re
And microsoft beat estimates, reporting a smaller than expected profit decline. The markets were in the green most of the day. All the indexes closed higher the dow, barely. For the 2nd day gold futures rose a direct result of all the hang wringing over russia and ukraine. That also drove oil futures up. Online broker Charles Schwab and company has been fined a half a Million Dollars. Regulators say it added language to client agreements to prevent them from joining class action lawsuits against the company. Next tuesday. The date Just Announced when the Senate Banking committee will vote on whether to confirm president obamas 3 candidates to joing the federal reserver board. All 3 are expected to win confirmation. Our trader this morning is bob iaccino from tethys partners. Let me ask you about durable good orders look pretty promising, a lot of the earnings numbers were looking good and yet the markets didnt show a lot of enthusiasm. Youre right. I think that what youre seeing especi