The second week of february we have seen this phenomenon play out and today was no different even as the dow did slip 80 points s p declined 8. 4 . Nasdaq lost 1. 1 . [ sell, sell, sell ] it was up yesterday. What do i mean Pricing Power . Im talking about a companys ability to raise price on its goods and not meet any resistance when it does. The ones that can have stocks that bounce back quickly from marketwide turmoil or they hang in like champs. The ones that cant, they dont come back. Or they fall behind when the market bounces because their earnings per share numbers are in jeopardy. Who has it . All right. The market was down. Many stocks consolidated gains we have had over the last couple of weeks in a way that showed me the companies underneath can with stand promotional and discounted pricing. Take apple. [ bull bellowing ] one of the reasons i say own it, dont trade it. [ buzzer ] is because am has the ultimate in pricing pou. I get tired of wall street flitting in and out o
Brent now at the highest levels of the year. Gold, copper, et cetera, and the stocks within that complex have all just ripped. And since february 11th, most shorted stocks in the s p 500 up 20 . This is a massive Short Covering rally. Theres two questions you want to answer for yourself. Is the bottom in . The answer to that right now, only is in will there be an exogenous event that takes you back to the lows. Not an economic event. Recession pulling off the table. Secondarily the question, where do we go from here . Higher. We go higher from here. 37. 50 in oil. Higher from here. Higher in all the names that are tied to the goldilocks formation. Youre shaking your head no. Im on the other side of this. I agree that its a short squeeze going on. But ive got to say that we havent solved any of the fundamental issues in the commodity space, which is simply oversupply. Who cares . Eventually, everybody cares, joe. Nope, wrong. Its about performance, its about Short Covering, the future s
Steal police carrying out another series of raids. The police are still looking for two men believed to have actually carried out the bomb attacks. Dan bowens has more with the investigation. Reporter thats right, they are patting people down, the city is still very much under siege. Two days after the bombings the police in france say that they have stopped a potential attack on french soil. On squats on scene. A neighborhood evacuated in the suburb just outside of paris. Here the French Police are detaining a man allegedly in the advanced stages of planning a terror attack. While its unclear if the Law Enforcement activity is related investigators spent much of thursday carrying out raids related to the bombings. The interior minister saying that we have large Police Action in brussels and reports indicate that six people are now under arrest. And authorities believe another terrorist may be linked to the subway explosion. The Surveillance Video was shown. The police is circulating t
Weve had disappoints galore in pretty much every sector. Its been almost nonstop depressing. Its hard to recall a time when the misses were sao widespread. Earnings fell at abc and a strong dollar played havoc with merchandise sales. Leading to a sharp decline in the stock. It didnt do the number. Even the worst earning seasons have Silver Linings and youre seeing stocks line with silver everywhere. Which is how we could rally so hard today. S th nasdaq we could only run like this when oils going higher and the dollars going lower. Wot stronger oil and a weaker dollar, the rocket guys nowhere. Classic failure to launch. Or when theyre going in the opposite direction were going up in flames. This market is as stupid as uncoated free sheet paper which is even dumber than plywood. It believes when oil is up, the Global Economy has a pulse. More travel in india, more jobs in the u. S. Why do traders reach these conclusions . The oil market is supposedly glutted, way too much supply. Theref
Week low at this point. Up by about 1 . It looked like they were headed back to 50 and thats been given up over the last couple of weeks. We do have a special lineup of guests ready to tackle all things energy. Hess ceo john hess and christopher crane. Plus the president and chief operator officer of Royal Caribbean cruises. And then later, Southwest Airlines chairman and Ceo Gary Kelly. Theyre set to post Quarterly Results later this hour. Well talk to him about the results and what he sees ahead with the Energy Picture as well. Lets tell you about whats going on today. A couple of stories were watching this morning. Ecb meeting right now. Policy decision due around 7 45 eastern time. That will be followed up by a News Conference by president mario tr mario draghi. Economists say its likely the ecb will keep the door open for more monetary policy. Earnings once again the big focus is the market. Before the bell well be hearing from caterpillar, mcdonalds, dow chemical and many others.