Previous peak on february 19th and all i heard is its because were having a v shaped recovery wrong, wrong, wrong. Not just wrong but laughable in a v shaped recovery the Dow Jones Industrial average would be hitting highs but this move is led by the nasdaq and s p including today the dow lost 67 points as the s p advanced 2. 3 , the nasdaq gained 7. 3 you dont need to be a Rocket Scientist to figure this out look at the stocks that have brought us to these levels they are not the recovery plays. In fact, they are the opposite they are stocks that tend to do well because of what we call secular considerations, not secular like nonreligious but secular as in they are doing well because of trends in their own industries, not the economy. Far from it. Allow me to explain. We had a magnificent v shaped recovery in the stock market, but the stock market is not a great reflection of the voter economy anymore. If anything, the actual economy is in precarious shape now that the government stim
bell. the new york stock exchange, thank you very much, everybody. i m glad they re happy to show this. i m bill griffeth. i have no idea why the traders are applauding right now. downgrade of greek sovereign dealt, as well as economic data on both the u.s. and chinese economies. we have come off the lows of the session. the dow was threatening to turn positive a short time ago. but we have global economic concerns sending investors into a relative safe haven. gold very strong late this afternoon. we ve seen a minor rally in treasuries, pushing yields lower again. gold settled at a three-month high. maybe they managed to find australia on the map. let s see where those markets are standing. we ve got about an hour to go in the trading day, of course. dow at 12,943. ooh, and another cheer for something that s going on behind us. the nasdaq is down by about half a percent. the s&p 500 is down .3%. the euro down now. bob pisani is back. you ran over to see what the applau