Party has to end but when . Okay, of course, its going to be a pullback but is that all youve got to say after the most explosive rally in modern history. Next story, the economy, in december 148,000 new jobs created, that is not strong, big job losses in retailing, big job gains in manufacturing and construction. Big show as usual. New probe of Clinton Foundation, were donors playing to play . Varney company is about to begin. Stuart here is another big story, look at that. Much of the east coast is still under a very deep freeze. Roughly 13,000 homes out of power. Thats serious. Here is a look at the latest weather map with windchill, by the way, frigid temperatures continue across the northeast for the entire weekend, will you look at the minus signs there . Chicago, minneapolis, my thatsg story. The other big story remain it is market. I have a tweet, the latest from the president. Here it is. Dow goes from 18,500 to 25,075 for new time record. Jumped a thousand points in the last
Few days, and its nice to come back to warm weather. Reporter lets look at satellite and radar. We have bright sunshine, well have bright sunshine this afternoon, its going to be a good day for us as you head out. The clouds are staying to the north. Were starting out on the cold side. 19 degrees in trenton. 25 right now in beach haven. 23 degrees in the city. Only ten in allentown. Its cold out there, were all talking about a warmup that hadnt come yet. 16 in millville. 17 in atlantic city. Lots of sunshine coming your way. Cold at 7 00 a. M. , 25 degrees, lunch time, upper 30s, with the sunshine upper 30s feel good. 3 00 p. M. , 42 not as cold as yesterday. 5 00 p. M. , 40. 7 00 p. M. Coming down from that, 37 degrees. Lets take a look, though at where temperatures have been going and where they are heading. 36 degrees was the high yesterday. We have a bit of a windchill factor, too, so it made it feel colder. Saturday, 53. Sunday, 50. The warmup is coming in time for the weekend. Th
Haystack the dow tumbled another 1,033 points no, no, no. S p sank 3. 75 . Nasdaq nosediving 3. 9 . In all honesty, what does it take should we look the answer is no no at least for the moment. There are far too few winners and the circumstances behind their moves are so hard to predict its simply not worth the hunt, not right now. You have to be content with buying the stocks of the companies you like that have hit attractive levels even if you end up having to buy more lower later betting one day the madness ends with wildness its often a better idea and this is what my advice is to sit on your hands after late afternoons late reversal we know any move higher for the moment will prove to be effectual. I dont want you to sell everything look, im not trying to be a defeatist. Sometimes the truth hurts. First, let me do this. Let me clear up the real culprit behind todays shellacking i heard stocks are going down because of weakness in the bond market this is false. Bonds might have set
The opening 20 minutes or so from now we are positioned for a higher stock market at that 9 30 mark europe has been open for some time and over there it is also been largely a positive day so far. You can see germanys dax of course and france the best performer. The 10year note yield so much of a focus yesterday as it same close to the 2. 9 not sure we ever got there were above it now thousand. Yesterday we flowed 2. 89, 2. 915 and stocks dont see particularly concerned wti is down though, higher than it was this time yesterday this morning stocks are looking to extend their daily winning streak, five all three indexes gained more than 1 yesterday shrugging off the stronger than expected cpi after what was a sharp decline early in the session and inflation data out this morning shows Producer Prices rose. 4 in january. That was matching forecast now the core rate minus food and understand also up 4 . That was twice what many economists had been expecting. What a difference a day makes.
Intraday decline in history. So i think it is safe to say two things first, with the dow plummeting more than 1500 points before rebounding to close down 1,175 poin 1,175 points which is still horrible im calling this a reset not a garden variety selloff but a reset and it is exacerbated bier rant trading. Volatility being code for dramatically lower opening than we deserve unless buyers come in to fix the balance where we begin to start have a real advance okay emphasis on terrifying when the averages fall so far so fast, when the dow losing more than 17 points in ten minutes. It shows not that stocks are bad, it shows the frailty of the stock market itself. They trade all the time and you may not know them, they become the tails, the wag the equity dogs the xiv is down 94 points. You know that is broken much moments where the sell orders flood in by machine. And the buy orders also done by machine seem to vanish they are pulled. Like it or not that is how the algorithm. I hate that w