We head into a new week on the money. The stock market market rally keeps powering forward and the major indeesices are hat fivey highs. The markets have been powered by so much money on the sidelines new money coming so the market at the beginning of the year as well as encouraging Economic News and just a lack of bad news when it comes to earnings. Stocks kept on climbing on friday. Lots of earnings news for big Financial Companies this week. Goldman sachs blew past expectations. Bank of america finished ahead of predictions, so did morgan stanley. Jpmorgan chase beat expectations but cut ceo jamie dimons composition in half to 11 million because of the socalled london well trade which cost the bank 6 billion. Retail sales were up more than expected in december, up half a percent. They ignored worries about higher taxes. Consumption makes up 70 of the u. S. Economic growth. The debt ceiling debate, president ial report card and quiet market rally. What does it mean for you money . Jo
Thanks for joining us. Thanks, maria. Russ, let me kick it up with you. A pretty good rally. On thursday the s p 500 hitting yet another fiveyear high. Is this rally for real . Do you think its sustainable Going Forward as we continue through this Earnings Period . I think in the short term, it is. I think were probably going to hit a road bump in february. The reason i say that is weve got a lot of flows coming into the market early in the year. People were nervous in december. Theyre coming back in to stocks. Thats a good thing over the longer term. We do have some issues coming up. The debt ceiling obviously one of them. The second question is we start to get the economic data. How big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit on the soft side do to stocks . Absolutely. That is the question of the day, isnt it, jared. The ceiling debate, the u. S. Set to hit that 16 trillion limit on borrowing in the next month if we havent
Thanks for joining us. Thanks, maria. Russ, let me kick it up with you. A pretty good rally. On thursday the s p 500 hitting yet another fiveyear high. Is this rally for real . Do you think its sustainable Going Forward as we continue through this Earnings Period . I think in the short term, it is. I think were probably going to hit a road bump in february. The reason i say that is weve got a lot of flows coming into the market early in the year. People were nervous in december. Theyre coming back in to stocks. Thats a good thing over the longer term. We do have some issues coming up. The debt ceiling obviously one of them. The second question is we start to get the economic data. How big of a hit from the tax increaseses, payroll tax holiday, and what do those numbers which may be a bit on the soft side do to stocks . Absolutely. That is the question of the day, isnt it, jared. The ceiling debate, the u. S. Set to hit that 16 trillion limit on borrowing in the next month if we havent
Financial news program, on the money. Now, maria bartiromo. Heres whats making news as we head into a new week on the money. Thstock market market rally keeps powering forward and the major indeesices are hat fivey hihighs. The markets have been powered by so much money on the sidelines new money coming so the market at the beginning of the year as well as encouraging Economic News and just a lack of bad news when it comes to earnings. Stocks kept on climbing on friday. Lots of earnings news for big Financial Companies this week. Goldman sachs blew past expectations. Baf nk of america finished ahea of predictions, so did morgan stanley. Jpmorgan chase beat expectations but cut ceo jamie dimons composition in half to 11 million because of the socalled london wl trarade which cost the bank 6 billion. Retail sales were up more than expected in december, up half a percent. They ignored worries about higher taxes. Consumption makes up 70 of the u. S. Economic growth. The debt ceiling debate
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