Buoyant because the fiscal cliff is not that big of an issue. Maybe thats why the averages once again refuse to drop dramatically, the dow falling 60 points. Despite the obvious impasse i saw firsthand when i appeared on meet the press with David Gregory this weekend, i know ive been interpreting the markets relative success through a difficult period. Success is defined by no huge hammering like we had securing the debt ceiling crisis. As a sign that either perhaps people didnt understand what awaits them no no or that there might be a deal on the horz ton avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won reelection, it does feel like the two sides are talking, but they appear to be talking past each other. The clock is ticking in washington. Ticking against a dealing. I think the two sides seem to hate each other more than ever. I dont now, it seems like the last 72 hours i was hoping it was going to get better and i
S p falling. 2 . The nasdaq eked out a gain. Thank you, apple. Frankly, its a little bit of both. Fridays fabulous session for the bulls represented everything that could go right. All the good things that might be able to come true, something that if it happened would send us much higher still. House of pleasure. But todays session, it was all about realism. Recognition that all is not well. And we better be really careful or we can give up a lot of these terrific gains. The house of pain. The contrast explains a ton of whats happening now. Lets tick down what really drove fridays rally and what could take us down from friday. First, oh, boy. We came in on friday with a full head of china steam. The managing reports out of china represent nothing short than a wholesale shift in business activity. Its clear something mayor is happening in the peoples republic. The government after being worried about inflation has clearly gottien growth religion which is why you seeing expansionary num
Us much higher still. House of pleasure. But todays session, it was all about realism. Recognition that all is not well. And we better be really careful or we can give up a lot of these terrific gains. The house of pain. The contrast explains a ton of whats happening now. Lets tick down what really drove fridays rally and what could take us down from friday. First, oh, boy. We came in on friday with a full head of china steam. The purchasing managers reports out of china represent nothing short than a wholesale shift in business activity. Its clear something major is happening in the peoples republic. The government after being worried about inflation has clearly gotten growth religion which is why you seeing these expansionary numbers. The Charitable Trust is buying the fxi. Proxy for the chinese stock market is the way to play this turn. I think you should be buying it, too. Buy, buy, buy. With china growing, a host of stocks can go higher. Everything from nike, seems really good rig
Off with the fiscal cliff. The president meeting with more ceos today bringing his plan straight to the people culminating in an appearance in a factory later this week. Costco joins the dividend parting initiating a 7 a share payout on top of the regular dividend. And a shakeup at groupon. The board may be considering cofounder being released. Theres powerball fever. 500 million big ones in the pot. How would you spend the money and how does the fiscal cliff factor in . Well talk strategy with a former Lottery Winner. We begin with the fiscal cliff. This afternoon president obama is scheduled to meet with several Business Leaders including ceos of home depot, macys, caterpillar and at t but futures are falling with signs there are troubles with negotiations on capitol hill. A market credible deal to solve the cliff is key to economic growth. That annual growth idea, that prospect is real in my view if we actually did get a market credible 4 trillion plan. The markets would realize tho
Years ago today. Happy anniversary to us. Im melissa lee with carl and jim cramer and david faber live from the new york stock exchange. Lets look at how were setting up after yesterdays rally. Particular strength in yesterdays rally. We didnt get housing starts, thats earlier today. As for the picture in europe, really the stand outout here is the euro. Greece getting a five notch upgrade at the s p. Our road map this morning starts with gm. Government motors no more. The treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. Another challenging quarter for fedex with the blame squarely on sandy. But the stock is up premarket. Oracle posts a Strong Quarter with Even Stronger guidance. The season rebound in europe. No impact from the fiscal cliff. And ge gets boosted from ubss key call list on the weaker than expected macro environment. Still on the list is including well tell you in a couple of minutes. General motors is up sharpl