John fort made his way back from San Francisco and striking a some what hawkish tone today saying it strengthened in recent months and Sean Matthews joins us to help us react to some of this. Thanks for being with us. Good morning. For being quote unquote hawkish why is the market up. When you look at her statement its shortterm hawkish but longterm still very dovish in a lot of ways and data depen debit which means the market feels comfortable that well be at low Interest Rates for an extended period of time. Meanwhile you have oil in a bullish pattern today. Gold up 12. At what point do we take price action as a real barometer of reaction to the speech itself. Its still an august day so the reaction is some what muted and well severe the next 30 or 60 days what happens and i still think that everyone feels kfr comfortable which is why you buy financial assets. They look really strong. To a certain extent the feds job is to make sure that they telegraph a rate hike so there isnt a sta
Maybe we can put it to rest. We have new details on the pay for play scandal surrounding the Clinton Foundation. How millions in donations reportedly bought donors coveted trips to the white house. David that is an expensive dinner right there. The dow was driven lower by shares of united technology, chevron and cisco. Some bright spots though. For the first time this week apple wasnt one of them. Oil tumbling as well today. Phil flynn of price futures and fox business contributor watching action from the cme. Lori rothman on the floor of the new york stock exchange. Lori, how did the major averages end the week . We were up, david. Despite all the volatility and triple digit moves in the dow, looks like were going to end on an up note. There is the averages on an up week. Apple did account for a lot of gain on nasdaq as well as companies that supply parts to the iphone. Iphone 7 was a huge story. Let me move to the banking news, in particular the bank scandal news of the week, startin
Gain for the close. Julie a could be a gain for the month of september. We will not know until the close. All three major averages are at the height of the session. What is contributing the most we are seeing the financials strong eddies of are the stocks that are singlehandedly contributing the most to the gains. Bank of america, citigroup, represent in the financials, coming back after losses yesterday. Pfizer as well. We saw broad weakness in the pharmaceutical industry yesterday. Amazon another record for amazon. It has been day after day for that company. We have also been watching outside of stocks, what has been going on in the bond market, currency market as well. Note, look at the 10year the moving we have seen in the 10year there, too, we have had some reversals going backandforth this week. I think we are having some technical difficulty on that front. There, too, we have seen a turnaround. There you have it. Point 1. 59 ,s reversing the declines we have seen in recent days.
Markets close in about two hours. Lets check on where things stand. It is the end of the month, final trading day of the quarter. To dow is up 190 points finish friday close to where we began september. It is the same for the s p 500. That brings us right around to the beginning of the month. Day,asdaq having a nice. 9 higher. There is speculation of deals. To go through some of the individual sectors, the banking index and major banks is what we have been concentrating on most of the day. Deutsche bank has rallied up 15 . At one point, we saw a down 9 in german trading. This is on speculation the department of justice may fine Deutsche Bank like . 4 billion. Citigroup rallying and bank of america. Next is notbanks include Deutsche Bank but there is a followon effect. Lets move on to other movers making highs today. Amazon. Com up 1 . Qualcomm up 1. 9 . Check on the bloomberg first word news. David mark . Mark Hillary Clinton wants to enlist 5 million millennials in the National Servic
Limited clouds this morning. And thats a sign of some of that drier air thats in place over clearwater beach. Kind of a breezy east wind. Near the beach. On the water youre boating today update in our temperatures Crystal River youre still in 60s. But you climb to 68. Elts 75 in tampa. Low 70s in bartow. Lake placid youre in mid 70s. And at 76 in sarasota. But the best part of our morning is this. Thats our dew points that have dropped about 5 degrees in most spots it feels more that will limit our rain skytower showing sprinkles on east coast and only 10 to 20 percent rain chance mainly south of tampa today. Heres vanessa with a traffic update hows it going we do have that fatal crash were following with lane block blockage an earlier screen shot when skyfox was here a bit earlier this morning. So its facting state road 70 at bets road. You can see a full shut down. Was we mow about this crash involves a truck you can see here. Looks like it was carry something sod. A lot of debris in