Place we shop at roared higher today. The dow closed up 179 and nasdaq up just. 1 and perfect news for stock market that needed more grounding in brick and mortar reality, and not just the internet 24 7. The market has been living under a cloud since the year began, not cloud computing, which people pay anything for. No, i mean a cloud known as the consumer. We have heard nonstop negatives. Consider the challenging shoppers going into this week. Jobs are hard to come by, payroll numbers in a row hurting Consumer Spending. You dont spend when you are worried about your job or cant find a new one. Feeling heart sick about the consumers ability to spend and 2 3rds is driven by the consumer. Were a nation of shoppers, or at least we thought we were. Second, the federal government failed to extend longterm Unemployment Benefits while at the same time cutting back on food stamps allocations, two of the most important backstops. Thats a National Dream on purchasing power, but not as big as th
Well be hearing from Tjx Companies and after the closing Bell Jcpenney will be reporting its numbers. Its been a stock to watch for the past year down near 5 a share as of yesterdays close. Lets get to andrew with some of todays top corporate stories. Hey becky. The big one bank of america saying that federal investigators are looking into whether the bank violated certain requirements of a Government Housing program. The probe centers around compliance with the rules of the federal housing administrations direct Endorsement Program this coming according to a 10k filing by the banking giant. Also this morning, Credit Suisse under a lot of pressure in europe, it already is under pressure in europe this morning but going to come under pressure more so today because a Senate Subcommittee is now alleging new misdeeds by the swiss bank and accuse the Justice Department of dragging its feet. The doj probing 14 swiss banks after admitting to helping u. S. Taxpayers hide money from the irs. Th
Overnight in shanghai down almost 4 as the yuan sits near a sixmonth low. The roadmap begins with the markets, the s p starting off shy of the fresh record high and the nasdaq beginning from right around its highest level in 14 years. Home depot is posting quarterly profit above expectations and boosted dividend. Different story with macys and shares slipping after same store sales came in below expectations. And jpmorgan expected to announce job cuts in its mortgage and consumer business. The bulls off to a good start, the dow jumped more than 100 points and closed at 16,207 and the s p hit 1858 before pulling back and closing at 1847. Thats a point away from its alltime closing high. And as we said, the nasdaq reaching a 14year high before closing off its best levels. Jim, you said last night you would try to play the role of the skeptic. I do not like to see the nasdaq at a 14year high. I took to heart some of the comments we said on yesterdays show which is when you Start Talking w
Power to the parliament. An investigation of crimes committed over the past three months of the crisis,. Fourth, the forming of the Coalition Government in ten days. But the three Foreign Ministers who brokered the deal are calling for caution. The polish minister is trying to remind everyone that whats being agreed to isnt initially. Its a draft. Its not a full blown signing and the draft is only a starting point. But that said, it certainly is a positive step forward. Because that means the end of the conflict. Back to you. Jim, what does that mean just in terms of why this quick turn . We didnt expect to see this from the president at this point. We thought maybe backing from putin would give him more resolve to push forward. Do you suspect russia was behind any of this, pushing him to do this . Well, certainly. Certainly the pressure is from first of all, pressure is from the eu and the United States. People have been saying that those sanctions were cosmetic. They werent. Freezing
Morning as the violence in kiev has left at least two dozen dead. The roadmap begins with netflix youd over verizon as the primetime download speeds allegedly slow. And lets make a deal, cigna jewellers agreeing to acquire zale for 21 a share while one wall street firm suggests walmart should pick up Family Dollar. First up netflix has a bone to pick with verizon this morning and its fios service, according to the wall street journal, the average prime time speeds fell 14 last month as netflix is rolling out a new season of house of cards theyve been in dispute with verizon and other broadband providers how much content theyll carry without paying additional fees. It is sort of a story, david, simon, of two companies but with broad ramifications as we see other deals coming down the pike. Without a doubt. We know this is only going one way which is up as Broadband Usage will only continue to increase as more and more people stream. There are statistics that say 30 of the streaming that