Midaugust swoon on wall street t. Dow posting the lowest decline since june. All time high set two weeks ago. Bob, what did you make of todays selloff, bob . Well, it was the worgst in six weeks for the dow. Worse than actually two months i believe for the dow. Im still settling down here. The important thing is, look, bottom line, it was right across the board, risk reduction. We saw consumer stocks. Everything was down 1. 5 to 2 . Look at the dow, after 10 00, we essentially flatlined around 10 00. We ended near the lows for the day. Heres the two headlines we have been talking about all day, whats fair value for the ten year in neb knows. Thats the biggest single issue down here. If you tell me the answer to that, ill tell you where thing will be going. We are not talking the growth. Cisco, macys, walmart throwing that Earnings Growth picture into some kind of doubt t. Result is that risk reduction. I would note moderate volume throughout the day. How about the bellwhether blues, th
Melissa happy friday to you. I am melissa francis. Lori and i am lori rothman. We will tell you how to protect your investment. Melissa how worried is business . U. S. Chairman joins us in just a few minutes. Lori boeing 787 dream liner is safe. If boeing stock safe for your portfolio . Melissa if your new years resolution is to get in shape, this one will hurt. The gym membership, at that price, they better be working out for me. [ laughter ] all right, time for stocks now as we do every 15 minutes. Lauren a sibling that he is standing by. Stocks struggling today. Holding this titrating pattern for much of the session. The dow is up seven points. Energy is flat. Lets take a look at wells fargo. Profits hit a record high. That is good. They are not doing as many mortgages. They are the nations biggest lender. You can see it is down by one and a quarter percent. Cheryl how did last years drought play out . Jeff it was pretty wild in here today. Five of the past six years, this has been
Jetblue David Neeleman joins us. Lots to speak with him about and his newest project which has nothing to do with airlines. Instead it centers on genetically driven health care. Always interesting with David Neeleman so stay tuned for that one. Apple stock continues to climb after splitting 7 for 1 and there are reports now that could make the 3 billion beats deal make a lot more sense. Is apple about to change the head phone port on its devices so that all older head phones are obsolete . Story is getting a lot of buzz and making a lot of people angry. Well have that story ahead on closing bell. Take a look at the markets. Dow down 13 points for the last several hours. And as we continue to follow the major averages. Theres the nasdaq up about 40 points. Joining our closing bell exchange, weve got monica meta, doug sandler from river front Investment Group and marty from premiere Wealth Management and Kenny Polcari here. Welcome to everybody. Kenny, concerned about markets here, encou
Suddenly getting hammered. Dagen wolverine was firm red dawn just for movie buffs. Connell will be along. And Larry Summers, the next fed chairman kontakion life of its own. That will be interesting. Dagen to make the decision by having a math or science contest between the two. Would that be fun . Will talk about all of it. Connell first, lets go to nicole. Stocks now. We are getting hit pretty hard. Exhilaration to the downside. The dollar has been weaker, but you are seeing selling going forward. A few of earnings. Confidence numbers, Consumer Sentiment came in. That was better than expected, but it looks like we are ramming natalie get people deciding to take profits. I was talking earlier this week, also ben willis. There were just talking about the fact that we have run up four straight weeks in a row, and there are people who want to just take their days of the table. Fed week, a lot to go on. But this week it looks like we will have our first losing week for the dow and the s p
And lots of financial incentives dagen you get suspended and come and go. Stocks now and every 15 minutes. Nicole we are taking a look at the market. Yesterday there was a twopoint game. As i noted, we have had some backandforth action. The tech heavy nasdaq is still under pressure. We are seeing financials doing well. Names like travelers and United Technologies have had some moves. Continuing to watch names like netflix. The u. S. Dollar has changed direction. Gold has pulled back since yesterday. The major market averages are mixed at the moment. Back to you. Connell what about bonds . Our first guest has some very clear advice. Sell them. Sell them right now. With us from chicago is the vice chairman of ariel investments. We like clarity. If you look back at the history, if you go back to the 1800s, we have only had one period of time where Interest Rates were lower than where they have been recently. Obviously, Interest Rates have gone up to 2. 5 . Interest rates have been artific