Bringing on the bear like today where the dow dropped 115 points and the s p sank 8. 4 and the nasdaq tumbled more than 1 . Oh, we parsed every word from every fed official hoping that any minute now we would get confirmation that the fed would tighten and then we will be crushed [ screaming ] but what if it already happened . What if were already in a bear market at least for so many stocks . So even if the fed tightens theres not as much down side as we think. What if we saw something akin to the lows last tuesday when the market was crushed after they tried to rebound following serious declines and however it was closing down 11 for the year after the worst august in five years where the declines have been relentless, dont you have to start asking yourself, maybe the bear market is already here . Arent we further along on the down side than many think especially from the more bedraggeled Energy Stocks . Maybe theyre coming back and maybe theyve hit rock bottom that the losses have b
That stock soaring today after meeting expectations on earnings. This company now has a higher multiple, higher market capitalization than wall administrator. Probably higher multiple, too. Yeah. Im sure it does, as a matter of fact. But is it justified . Well talk about that coming up, as well. Heres the markets right now. Final hour of trade on this mid ferm tuesday and the dow slightly higher after spending the morning in the red. Higher by 22 points or so. The s p though is negative off by about 5 and the nasdaq off by about 14 and talking about whats off today, bill, may have something to do with the midterms and a question to explore. The price of oil as you mentioned. Fouryear low for wti which well get to here and the closing bell exchange. Mark spellman joining us here at the new york stock exchange. Amy wu is with us. John manly. Kenny pulcari and our own rick santelli. Why isnt the low on oil putting more downward pressure on the stock market hand it has . Im on the opposite
I am lucky enough to call Rebecca Frankel a close friend. Seven years ago i was approaching two years that my first job here in d. C. And it was a job i did not like chemical my mom crying doom at during my lunch hour twice a week feel the way it is entitled millenials can be. And at the point i felt it could not get any worse the ii other people on staff and my boss wanted to grow the team and ask if anyone would be a good fit and one of the people she called was Rebecca Frankel one of the biggest stroke of luck she recommended me and at the time i was just a kid sister of one of her friends and here i am. There is no way to ever pay her back to usher in one of the most interesting phases of my life so when she broached the subject the fight could host any event for the event war dogs i remember thinking you got me my job here. We can have the early show or the elderly to show. Just name it. [laughter] i can say that love their compassion and respect that she shows her friends is the
With more on the project. And when these closures will end. Reporter the cruise and just moved in the place look behind me the heavy equipment is now here on the marin county side of the Golden Gate Bridge to sell malaise will be sought to get down till tomorrow afternoon. Reporter tried to get the roadway ready for this try to get the traffic together on the Golden Gate Bridge prairie reporter the try and get the roadways smoothes out and get the equipment out. Reporter could be a nice smooth ride driving experience. Reporter the two inside southbound lanes will be shut down to about 1 00 saturday afternoon later saturday night the two northbound lanes will be short shutdown when it is all set down said and done equipment and a mobile poll barrier will finally be a reality sometime in january 2015 is nothing compared to the devastation of head on collision on the Golden Gate Bridge and thus will try to avoid. Reporter heres what to need to know of your coming in from south and the San
Exxonmobil and t. Boon pickens. Jcpenney getting a big downgrade. And more optimism for apple. Another analyst ups the price target. First up, one day after the dow closed at record highs, the private sector added 208,000 jobs last month. That was a bit below street forecast. Meantime, Oil Prices Rising slightly this morning but down almost 35 from six months ago. Last night on mad money, Oil Tycoon Boone Pickens says he expects crude to return to 100 a barrel. Take a listen. Weve increased production, a Million Barrels a year for the last three years. And that is remarkable. No place else in the world has that happened. So consequently, i think youre probably going to see opec do something in the First Quarter of next year as far as cutting production. But im not so sure how much they have to cut to get to where i said you would be in 12 to 18 months. Youll be back at 100 a barrel. Fascinating. There is a school of thought that when production responds, you will overshoot the opposite