Rates begin to rise . Four reasons to be bullish still about the American Housing market ahead. And get a load of this one. American airlines actually flew the wrong plane from los angeles to hawaii. It wasnt certified to fly that distance over water. How in the world does Something Like that happen . That is the question were going to try to find answers to. But we do begin ty with the possibility of a rate hike this week, which would be the first fed increase in about a decade. Dominic chu has been taking a closer look at the stocks that are the most sensitive to a rate hike. Arguably by what im going to show you, investors and traders have already been positioning themselves for a possible rate hike from the fed. So you have heard it before, well say it again. Utility stocks are often viewed as one of the big sentiment gauges or proxies for what happens with Interest Rates. The reason why is because when Interest Rates rise or are threatened to rise, utility stocks tend to sell off.
And, folks, a key part of the estate tax, controversial tax to begin with, being almost totally ignored. Is the irs about to strike back . Well tell you about that one. We certainly will. We start with fed chair janet yellen getting grilled on capitol hill on regulating the banks and also her comments on the economy. Steve liesman, take it away with the highlights. Shes just finishing up testimony now, mandy, on the last question of the hearing that gab at 10 00 a. M. This morning that was supposed to be aboutbac banks but ended up mak news on monetary policy. Chair janet yellen told markets to wake up and get ready because december is a live possibility. What the committee has been expecting is that the economy will continue to grow at a pace thats sufficient to generate further improvements in the labor market and to return inflation to our 2 target over the medium term, and if the incoming information supports that expectation, then our statement indicates that december would be a l
Anybody on board why bother having the meetings at this point . Its a great place. I dont think they want to pay for the hotel room at this point. Our colleagues caught up with a member of the saudi royal family earlier today. Well bring you that in a few minutes. First lets talk about the goldman call on crude. The firm is cutting its forecasts. Its one month view is 38 barrel. Thats a significant decline and thats a fairly short time measure. Theyre saying 38 within the next month. A decline of 7 off the 45 its sitting at right now. The 12 month target is down to 45 barrel but goldman says the risk is that oil could fall as low as 20 barrel. They say that risk is rising. Among the reasons, a big sur plus of oil with the scarcity of storage space. In fairness its a differ guy. That was the super spike. All right. Equals, 300. No, wait a minute. All right. No, thats the wrong okay. 20 we think its going to 20. It was a different guy. But wasnt it 2007 right before i dont know. It was l
Softbank. They would become the second Japanese Company to own a major hollywood studio. Says he will serve board and the panels. Facebook launching a new ad platform today, one that will own desktopnd beyon its and mobile sites. Atlas will allow marketers to use facebook data on its 1. 3 billion users to target them to buy ads on nonfacebook websites and apps. Google has also announced a new mobile ad tool today. Plans to automatically resize advertising spots to fit mobile devices. Anchor calling it an marketing spot that remains at the bottom of a mobile device screen even as viewers scroll down on a page. This is all being announced in the conference weekend in new york. Let me start with you. It is interesting to me that this conference has become the event where these really big marketers are showing off their wares. Are these announcements really new or just a way to get attention . Facebook has been moving in misdirection for a long time. Year they allowed mobile up risers adve
Points. At 1969. Bouncing off of some pretty strong support according to some traders today. The nasdaq has done well. Up 54 points right now. At 4484. Lets show you the russell. Thats been the laggard lately and it is again today and 1 gain. You cant quibble with that. Trading at 1107. Just a little context there, perspective. I think that the s p and the dow about 2 away from the record highs. Right . So, you know, keep on watching until the close because these markets are absolutely soaring today. After that better than expected payroll number this morning so the move coming two days, though, after 200point drop. Remember that move telling you about . We want the know what you think and whether or not you think the selling in this market is overfover for now and let us know what you think. Showing you that vote as you can see discussing things. Yes. We call it i pow wow. Yes, we do. Joining us now on the closing bell exchange, sunny, rob morgan, doug gordo and of course our very own