Hear that. You can always hear that. Bob sa pa san any, one week down. What do you think happens in the stock market . A stock market believes the deal will be made in the next several days. Certainly before the punitive october 17th deadline. Take a look at the dow. It wasnt a pretty or magnificent market, but the bottom line is, we ended on the plus side two to one advancing declining stocks. Volume is light. No one is watching volume. Everyone is watching washington right now. Bottom line, smooth and steady as she goes. Watch the tenyear. Its been rock solid around 2. 6 . As long as thats not going crazy, the rest of the market is steady. The vix elevated a little where it was earlier in the week but nothing like back in june. Bottom line, still pretty steady as well. Interest rate sensitive stocks have had a tough time all week. That area is a little rocky. Reits down a little, Home Builders also to the downside. A brand name ipo, the fourth one this week. P potbelly went public, 2
On the other hand, going over the cliff might mean a recession. On top of that, worries about a deal were already causing trouble. Uncertainty about how the fiscal cliff, the raising of the debt limit, and the longerterm budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. Susie wall street and Business Leaders were pleased that bernanke was talking tough. And they said the feds role in the fiscal cliff negotiations is to communicate. Tell the world and the individuals in the political establishment that they have to help get their act together or we have a problem, and that notion of preaching from the pulpit that he has is very fundamental. Susie is there another role or more of a role for the fed . I think to be a cheerleader and to be on the sidelines telling the government they have to do what is right for the public. Susie as for what the fed can
New york city today to send a tough message back to washington get your act together. He urged lawmakers and the white house to reach a quick deal to avoid the fiscal cliff, saying it might mean next year could be a very good one for the economy. Ben bernanke didnt endorse any specific tax or spending policies to solve the fiscal cliff, but he urged lawmakers to think creatively. He said an agreement on ways to reduce longterm federal budget deficits could remove road blocks to growth. On the other hand, going over the cliff might mean a recession. On top of that, worries about a deal were already causing trouble. Uncertainty about how the fiscal cliff, the raising of the debt limit, and the longerterm budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. Susie wall street and Business Leaders were pleased that bernanke was talking tough. And they said
On the other hand, going over the cliff might mean a recession. On top of that, worries about a deal were already causing trouble. Uncertainty about how the fiscal cliff, the raising of the debt limit, and the longerterm budget situation will be addressed appears already to be affecting private spending and investment decisions, and may be contributing to an increased sense of caution in financial markets. Susie wall street and Business Leaders were pleased that bernanke was talking tough. And they said the feds role in the fiscal cliff negotiations is to communicate. Tell the world and the individuals in the political establishment that they have to help get their act together or we have a problem, and that notion of preaching from the pulpit that he has is very fundamental. Susie is there another role or more of a role for the fed . I think to be a cheerleader and to be on the sidelines telling the government they have to do what is right for the public. Susie as for what the fed can
Weve seen a lately last hour selloff in this market. And we wonder if that will happen today on a month when this is usually the best month of the dow. Its been a forgetful month. But not for the Corporate Bond market. Pace record is being set and broken. Well see if that brings out the buy the dip. Interest rates are still historically very low. Its very cheap to borrow money for corporations right now. Weve got a lot of Market Information to get to over the next hour or so here. In a down market, this stock is bucking the trend. Dont look now but apple is surging again. Its now north of 550 and climbing. A ton of news driving it. Take a look. If theres still time to buy the stock at these levels. You could have gotten 100 more cheaply. More people bought it last year at 750. Theyre waiting for it to get back to that level. Saying pretty please. Also, very serious story out of motor city. Detroit is now broke city. A judge ruling a little a few hours ago the citys bankruptcy can go fo