In general had another blow out day wednesday. With the dow up 108 and the nasaq 32. Gold fell 4 dollars. While oil cruised above 94 dollar. Good for a two week high. Also making news jcpenney plans to close 33 Underperforming Stores and cut 2,000 jobs in its latest turnaround effort. The retailer is also bringing back Commission Pay for certain positions. And yahoo coo Henrique De Castro is leaving the Internet Company effective today. Todd horwitz of average joe options joins us on this thursday morning for a check on the markets. Good morning todd. Good morning angie. Weve had a big down day. Weve had 2 big up days. Im hearing this is a traders dream. The action is good. Its nice when we get volatility. Volatility is a very forgiving item so when trades go wrong you have a chance to get out. So yes the ups and downs are great for traders. What would be your reaction to the feds beige book that came out yesterday . I think it was fairly muted. I think the market had basically no reac
Below 16,000, the nasdaq lost 37 points and the s p 6 points to close at 1792. Gold faltered by 14 dollars and oil fell 88 cents. In earnings after hours sales force. Com traded in heavy volume with loses and gains. The Company Reported earnings that were in line with estimates. And Urban Outfitters shares fell about 1 after post revenue and profits that topped expectations. Another active day for walmart the retailer is being sued for firing protesting employees. And will hold a food drive for its own workers. Jpmorgan and the Justice Department have reached a 13 billion settlement deal over bad loans. It includes a 4 billion consumer relief package. Jim richter of Performance Trust joins us on this Tuesday Morning for some trader talk. He has his eyes all over this market. Good morning to you jim. Good morning angie. We are watching the record setters in the market. Will it continue into trading today . Yesterday was a big day for the stock market. Lots of great headlines angiefor fo
February for stocks. Dow clinched 4 in gains. The s p 4. 3 and, nasdaq 5 mixed news about the economy came into the market friday. 4th quarter gdp was revised down from 3. 2 to 2. 4. While manufacturing numbers out of chicago took wall street by surprise by improving slightly from january. From the retail department. Bloomberg news reports the secret service is investing sears for a suspected hack attack. Sears insists its security was not breached. And the wall street journal reports jcrew is in talks to be sold to a japanese retail company. Trader daniel stecich of athena Advisor Services is joining us now to talk about this Market Reaction to the gdp. What do you think daniel . I dont think we saw any surprises on the gdp. They were pretty much expected where it came at. Whats more surprising to me is that they make these robust announcements early on and then they all kind of fade away. All things being said, the market reacted well to it so i dont think theres any problem going fo
High. Gms cars recalled for faulty ignition switchs remain on the road after a texas judge denied an emergency motion to stop the cars. The illinois attorney general launched an investigation into the Business Practices of herbalife. The stock fell to 55 dollars friday. The Company Denies the allegations. Chris gersch of altimus capital is on the Trading Floor for us this morning. Good morning chris. Good morning angie. Stocks are hanging tough, even with stumbles from google and ibm. You hit it right on. As far as the market is concerned it is holding on to whatever gains it had last year and the momentum has switched from a bearish to bullish tone last week. As far as traders are concerned there is parity. About 34 of the options is in a neutral based strategy. A lot of traders dont know where the market is going from here. What do you think about the performance and earnings coming from General Electric . I think General Electric is fantastic. Even with that 23 gain that we saw on t
Chips are now back to levels we have not seen since the financial crisis in 2007, when the dow hit an alltime high of 14,164. Amazon amazes despite a drop in profits. Last night the e tailer reported strong holiday sales of its kindle ereaders and a boost in operating incomes. The Federal Reserve makes an announcement on rates today around 2 15 eastern, wrapping up a twoday meeting. And the senate has confirmed john kerry as the next secretary of state. Joe cusick of optionsxpress join us now. Joe, there is a lot to talk about this morning, including the dow closing in on 14,000. What is your take . You know what, its a level that everyone is watching right now. We are about 40 or 50 points away. It is a psychological level as well as a momentum level. The bulls are in control right now, and, hey, the dow has exxon in it, and that is the Largest Company in the world. Consumer confidence, though, took a hit. People are saying it is because of the lower amount of the paychecks because of