Far this year. The dow has advanced 8 in total. The s p 500 up almost 14 . The nasdaq has jumped 16 . Its been a good year. The end of the year also means we are just days away from the fiscal cliff, however, and thats the bad news. And looming tax hikes, spending cuts, all of that. Both sides warning a very big deal becoming a bit more unlikely. And my one bit of advice to Speaker Boehner is this. You cannot pass a bill with just republicans. On a broad thing like this, you need both. And he has put himself with plan b and sort of an impossible position. He has to get these hard right goes to go along with him. And he and the president were going to say were going to pass a deal with the majority of republicans and the majority of democrats in the house and senate, we would get a mainstream deal. I think were going to fall out of the fiscal tree. The big deal for the big deal is at the debt ceiling. Thats when we will have leverage to turn the country around. Congress is now out of se
Strategies and former White House Press secretary and Gerald Bernstein former economic adviser to Vice President joe biden. Gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. Rising early and rising above. Exactly. Lets talk about this. Jared, it seems like things have gotten quieter. Do you think thats the case . Is that a good sign . I think its probably a pretty good sign. If you look at this mornings papers, you see a number of articles suggesting that theres a bit more compromise in the air. My concern is that tomorrows papers may say the opposite. So interestingly, theres been some pretty leak free discussions going on, which i actually think is a good thing. Theyre obviously big, outstanding questions. You mentioned the tax rate issue. One question i keep coming up against is the president and john boehner are now supposedly having good, substantive discussions. Can boehner bring the troops along . If he agrees with the presid
To keep the lid on growth. European markets get a lift from the latest European Market data showing the private sector has expanded for the First Time Since april and signaling europe could avoid a recession in q4. And japans Business Sentiment sours in the Fourth Quarter. This reading comes two days before a nationwide vote that suggests it will hand the ldp position a landslide win. Were going to give you all the latest results from the flash december data for the pmi for the eurozone that were just getting out. The overall, the deposit is a touch stronger for the month of december. The details show the manufacturing weakened slightly and its services strengthened slightly. They are overall still in negative territory. And were seeing the euro dollar respond a little bit to the downside. Down about 0. 01 trying to fight back into flat on the day. 130. 75 is the level there. Again, the services pmi is at 47. 8. Compared with the 47 that was expected. Its a fivemonth high. The manufact
Since 1950, there have been 17 other instances when the s p is up nearly 20 on the year. The index finished positive the following year 82 of the time. Positive the following year, the s p finished with a gain of at least 7 , 86 of the time. Given the rally, its not surprising that stocks mutual funds are set to see their first annual inflows since 2005. But not everyone is convinced or confidence in this run up. Investorers forward more than 21 billion into money market funds on fears of a potential pullback for stocks. Those came as investors pulled funds from the previous week. Now, we are watching the tenyear. Now, the bet was on the tenyear. I dont know if we want to do the bowing now or how we want to work this. You said they werent going to taper. Im out of this. I lost. Im not even trying. Listen, here is the deal. And even on that friday i forgot about the bet. But on the friday when it was supposed to end and it was the close of that day, it was less than two basis points hig
Citizens of new zealand. In auckland, this is where theyre celebrating new years. The light just went down. All you hobbits out there, we wish you a very happy new year. Its coming our way a little later. There go the fireworks. Yeah, it is officially new years eve. 18 hours ahead of us. Happy 2013 to those folks just a few hours away from us. Good morning, everybody. Im becky quick along with Andrew Ross Sorkin. Joe kernen is joining us from washington, d. C. This morning along with john harwood. Joe, i know you have a huge lineup there. And i know you were up a little late last night, too, right . Yes, becky, very late. You and andrew, i hope you guys are ready for the heavy lifting. Can i ask you a question . Are they over the cliff in new zealand, do you know . Yeah, i guess thats it. The sequester would have gone into effect. No, thats probably only affecting us here, but that shows you how close it is. We are i guess something could happen at 11 00. Well see, beck. Andrew, good t