We didnt see many of them at all today. Dow gaining 27 points, nasdaq climbing. 36 . You need to understand how extraordinary this whole rally is. Were seeing wholesale reevaluations of what the market will pay for Companies Future earnings. Its remarkable because typically you need something to happen to trigger this kind of euphoric buying behavior. But nothings happened to justify paying higher prices for the same earnings estimate. This is all about an animal spirited bull market that i have to admit seems to know no bounds. Think about it. Think about the absence of catalysts. Start with the Federal Reserve. What did the Federal Reserve do to inspire this market . Actually, nothing. Federal reserve did nothing at all. It merely stayed the course. It said it would be patient. Yet everyone told me wow, thats it. All it did was do what it always does. How about oil . All it did this week was nothing, meandering around the 50s. Earnings have been done. Some good ones, red hat, the ope
Seen in the dow just since yesterdays highs. We talked yesterday about the outside reversal we had and what that meant technically. Art cashin among others really focused on what this has looked like from a trading point of view even as people are arguing about the fundamentals and speaking of which, lets talk about a couple wacky things going on in this marnth. Ket. Well get you all angles covered. Why are mining stocks being routed . How come retail sales look so weak when gas prices are so low . Will europe come to the rescue next week with their version of quantitative easing . And does all of this add up to a global economy, bill thats healthy or in trouble . Let me show you the stock market and then we can talk about oil as well. The dow industrials as we said down 258 right now, a decline of almost 1. 5 . S p down 21 points. Decline of more than 1 at this hour. The nasdaq is doing better than the three. Down 39 points or about 0. 85 at 4622. Show you oil very quickly. Late today
Afraid to touch. Our Political Panel weighs in. A simple step to keep hackers away from your devices . Plus advice before your next hospital visit on what to do when the Insurance Company doesnt pay . All this and more coming up on the willis report where consumers are our business. Friends, we 3r 1 hours away from the deadline to file your taxes. If you are one of the last minute filers frantically running around trying to get this done, there is one question that may occur to you. Where exactly are my taxpayer dollars going . Here to answer that question is Heritage Foundation tax policy expert curtis debay. Welcome back to the show. Always good to have you here. Where does my money go . Well it goes to all sorts of things. I think taxpayers would be surprised to find out a lot of the money goes to Entitlement Programs like Social Security and medicare. People think they pay for them during working years and get the benefits back after they retire. It doesnt work that way. Theyre pay
Coming up in a few minutes. A couple of different stories were watching. The nasdaq partying like its the year 2000. Closing above 5,000 for the First Time Since then in only the third time ever. The nasdaq now. 8 away from the record close. There is a surprise from down under this morning. Australia central bank holding back on further easings. Gasoline prices jumped 37cents a gallon. Now thats the largest week to week increase since the agency began its survey in 1992 but life is relative and if you remember where things were six months ago its hard to complain. So it doubled in three and doubled again in three. So it doubled 72 divided by 3 is 24. 24. So its probably is it 24 return in six years if it quadruples . Yeah. If it sits right you can do it. So the nasdaq is up so instead of 6 or 7 for equity appreciation the nasdaq since 2009, 24 a year. So stay out of the market. If you put that money in 15 years ago youre just giving it back. They didnt have money 15 years ago. They wer
Fact, he admits he is working as he can on a wide variety of projects. Ifill those are just some of the stories were covering on tonights pbs newshour. Major funding for the pbs newshour has been provided by and by the alfred p. Sloan foundation. Supporting science, technology, and improved Economic Performance and Financial Literacy in the 21st century. And with the ongoing support of these institutions and foundations. And. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff this was touted as the biggest day of the year for Online Shopping, as hundreds of retailers tried to lure millions of Holiday Shoppers on cyber monday. Early numbers suggested a sharp increase over last year, after a fourday Holiday Weekend that turned out to be disappointing. In a few minutes, well take a deeper look at the numbers and retailers prospects. The u. S. Supreme court declined today to decide w