Operation twist, where we just had a liquidity dynamics last time i was on we talked about Earnings Growth bottoming and reaccelerating of course the rate of change is what boosts the multiple so were this one of those periods where it should extend not just through end of the year, but into the beginning of next year as well. So if you think about when those rallies stalled out after qe2, that was the point where everyone realized all that liquidity didnt really boost earnings all that much and by then stock prices were ahead of fundamentals but between now and then, i think that the path of least resistance is still higher lets take a quick look at treasury yields. The fed operations is a large part of why. The ten year is yielding 1. 73 and meanwhile Chinese State media, remember on sunday the pro democracy candidate scoring a landslide victory winning almost 90 of the district down can still seats. And now beijing is calling the election a setback for hong kongs Democratic Developm
Street stocks set to open at new records once again the stock market just hit another all time in history high, meaning 401 k s and jobs everybodys getting rich and im working my off. Shares of deere sliding, ahead of the open. Issuing a profit warning for fiscal 2020 as trade tensions persist. The toys r us come back, after shuttering all the stores, the new Companies First toy store set to open in new jersey this morning as stocks look to set some new records on optimism about trade, Economic Data today is also in the mix. 3q revised up. Business investment up 1. 2 proxy for investment, that was not a good number last month making up for it now. In tune with what the market has been trying to say, which is that we had this soft patch, were pulling out of it, i think there is a real willingness by the market by investors to look through any near term kind of softness in the incoming numbers because they feel as if we kind of escaped the greatest risk i think these numbers would confir
Datly positive economic which we will get to in a moment. Over the past month alone, the major averages are all up more than 4 . As for today the dow rose another2 points. Nasdaq climbed by 57 with apple, facendok, amazon, netflix among the outperformersthe. The s p 500 added 13. As bill said, a lot o todays sentiment driven by stronger than expected economic data, and there was a lot of. Steve liesman sorts through the deluge of data. Reporter preholiday deluge of data showing the u. S. Economy operating a bit baert st than walet had expected. There was one warning sign about the holidayhopping season that bears watching. E government revised Third Quarter gdp up to 2. 1 , two ticks better than expected. Durable goods rising 0. 6 in october, much better than the 1 decline expected. A partial reversal ofhe sharp falloff in september. A business spending measure inside the report also improved. Meanwhile jobless claims came in below the elevated level of the past feweeks and that eased
That has put much of the country in a deep freeze. It is now moving east. Winter storm warnings, advisories, and freeze warnings are posted from texas to maine. Cod get up to a foot of snow. The snow and ice also caused major problems at chicagos ohare airport. A plane skidded off a runway. A ground stop was issued, and more than 1,000 flights were canceled. Boe this is only the beginning of a chilly week set to impact more than 222 million americans. Chief meteorologist kate bylow of kyw has the forecast. We are tracking a very strong arctic cold front which is ushering unseasonably cold air to really the entire eastern half of the country today and into your wednesday. The cold has already settled in across the great lakes in the wake of the snow. As far as precipitation is concerned, the heaviest snowfall rates up across the highest elevations of portions of new england. The main cities up and down the eastern seaboard mainly looking at rain possibly changing over to a brief period
Captioning funded by cbs good morning from the studio 57 newsroom at cbs headquarters here in new york. Good to be with you. Im annemarie green. Well, several major wildfires are raging out of control in california this morning, destroying homes and prompting mandatory evacuations. More than half a dozen active wildfires are burning across the northern and southern parts of the state. In wine country, a fire has burned at least 49 buildings, and one of the largest fires is in the state and is burning near santa clarita, about 30 miles outside of los angeles. Nichelle medina is there. Good morning. Reporter good morning, annemarie. I can tell you more than 500 firefighters arere working what been called the tick fire here in santa clarita. You can see that im standing just right here at the command center with numerous agencies. Theyve been on scene, its been very active overnight. Many of them just coming in here to take a break and get some rest. So far, this fire has burned nearly 4,