To political lobbying and haranguing, whether it comes from this end of pennsylvania avenue or the other end. I think youve stuck to your guns so far, but i want you to keep sticking to your guns i would like to turn to some questions about facebook and its proposed cryptocurrency, libra im a supporter of innovation in the Financial Sector, and if done right, this notion of a cryptocurrency could really deliver, i think, real benefits to the for increased friction, more access to consumers. But somebody who spent a lot of time the last couple of years dealing with social media and facebook in particular, i think it would be safe to say, and frankly, for people on both sides of the aisle, that facebook has quodeveloped sometn of a trust deficit and that the kind of Silicon Valley mindset of move fast and break things maybe works when youre just thinking about it in a technology framework, but when were thinking about the kind of implications social media has had around consumer privacy,
Treasury secretary coming on the air. Ill jump for the next hour. Ill see you tomorrow. Very good. See you tomorrow. Thanks, everybody. A 70point gain. What do you imagine a decline looks like when youve had ten consecutive days of gains for this market . We keep we hit eight consecutive alltime highs and the laws of gravity have to kick in at some point. Unfortunately or fortunately, people have been expecting that pullback for almost three weeks or so, give or take. When it comes, does that mean it will be bigger than were expecting . Not necessarily, but we have not seen a real down day of any significance in weeks. And i think were maybe were getting a little too complacent on the upside. Were two points away from that alltime high on the s p. Weve got 30 seconds left. And really, as you know t, the last few days, weve seen the market really kind of hit those numbers as we go into the close there. Well see what happens. Warren myers, thank you very much. Up eight point s on the s p
Film if it could demonstrate sufficient crowd interest. And theyre not doing it for a return, theyre doing it for the content. A 10 pledge by the pdf of the script the day the movie is released plus email updates on the shoot. 35 buys a digital version of the movie plus a tshirt. 100 people paid 500 for kristen bell to record a voice mail message for them and another 100 people spent 1,000 for tickets to the movie premiere and afterparty. One devoted fan pledged 10,000 for a speaking role in the film. This is certainly a big win for warner brothers. Its effectively free financing plus the promise of a truly devoted fan base. Brian, well have to see if other studios take a lesson from this and try to find out ways to profit from the power of crowd funding. Julia boorstin, maybe you sold me. Well find out. Thank you very much. As we wrap it up here, 115 s p 500 companies are trading at new 32week highs. Thats about 23 of the index. 52 of those are at alltime highs and weve got an hour le
Sheila Bair, former FDIC chair and now senior adviser to the Peter G. Peterson Foundation for Student Debt Smarter, covers the differences in financial aid and student loans in an op-ed on Yahoo Finance. Discussions on student loan reform on Capitol Hill continue as the end of student loan payment and interest relief approaches Sept. 1.
banks in the news today, big earnings from jpmorgan and wells fargo, as you know, out this morning. we ve got the wells fargo cfo here exclusively as well as fdic chairman shelia bair. she still says too big to fail may be over. she s here exclusively to talk to us about that. and we ll have more of my exclusive interview with liberty made boss john malone. he tells us how ben bernanke s media policies are helping him build an even bigger empire. the dow jones industrial average, down 30 points, 14,835. last trade there pulling back from an all-time record high reached yesterday. nasdaq was down 11 .75 points. and the nasdaq also down. the dow on pace right now for the first down day of the week, but still, we re still up nearly 2% on the week. and what is keeping this market afloat? well, in today s closing bell exchange, dan greenhouse, cnbc contributor from btig as well as hearth hughes from sun america funds, brandon, and our own rick santelli. we ve got them all.