Lets get to bob pisani on the floor of the New York Stock Exchange. This is what it sounds like when doves fly. Very good. That was a good song. The important thing about it is since yesterday, were up 1. 5 . The s p 500, we turn positive for the year. Lets look at what the markets are doing in the middle of the day. Brian is right. Were in a bullish situation now. Two to one advancing declining stocks. New highs are expanding 200 at the nyse. Volume is on the moderate side. Volatility, well, the vix is at new lows for the year essentially. So lets take a look at the s p 500, we are at highs for the year and, yes, thats only about up 1 . Well take that and most of those gains for the year have come just in the last 24 hours. Big caps, new highs, i mentioned some expansion of new highs and we have ge and coke and johnson and johnson, all names you know at new highs. United health. We track that on an intraday basis. Travelers also on the upside here. So most of the new highs recently ha
Tell you about outside the world of business. At least 8 people are dead and five more believed missing after severe flooding yesterday near the utah arizona border. Heavy rain swept away a roadway and these are floods that came up very suddenly. Three people at least have survived the incident. There are at least approximate 13 fires burning right now. Hundreds of homes destroyed. Well have more on both of these developing stories a bit later this morning. First andrew has todays business headlines. Lets get you caught up on the stories this hour. The bank of japan is holding off on expanding its Stimulus Program but warning that a slow down was putting further strains on the economy. Some economists say the boj could ease again next month. Well watch that. Take a look at whats going on with the nikkei closing today marginally up about. 34 . Also we have stocks closing down more than 3. 5 and at a 2. 5 week low, the Global Markets all waiting to hear from the fed on thursday. Thats th
Points. Here are the big stories were watching today. Weyerhaeuser is buying plumb creek timber for 8. 4 billion in the total price tag. The combined company will keep the weyerhaeuser name and manage 13 million acres of timberland. You can see plumb creek timber up 17 in the premarket. The dubai air show is now open for business. The last show two years ago saw record breaking orders. Thats not the case this time. No major purchases yet announced. Some say this is raising the red flag about the longer term health of the business. And in other global news, lufthansa canceling more than 900 flights today due to a cabin crew strike. A union calling for a walkout in frankfurt, munich, dusseldorf. 900 flights canceled. We talked about it on friday, i dont remember a lot about it. I remember i had to say dusseldorf. I remember seeing that in the teleprompter and nailed it. Nailed it. So theres a five star hotel there. There might be but i wasnt there on vacation. You were you were not there
The United States is home to 5 of the wor 5 of the worlds population but 25 of the worlds prisoners. Every year we spend 80 billion to keep people locked up. Many of the folks in prison absolutely belong there. Our streets are safer thanks to the Brave Police Officers and dedicated prosecutors who put violent criminals behind bars. But over the last few decades weve also locked up more nonviolent offenders than ever before, for longer than ever before. Thats one of the real reasons our prison population is so high. In california, efforts to reform the criminal Justice System are already under way. One year ago, voters passed proposition 47. The landmark law reduces certain nonviolent crimes from felonies to misdemeanors. It also gives felons convicted of those crimes an opportunity to have their sentence reduced. Is prop 47 working . Joining me to help answer that question are george gascon, San Francisco District Attorney. Brandon martin, Research Associate for Public Policy institute
The United States is home to 5 of the wor 5 of the worlds population but 25 of the worlds prisoners. Every year we spend 80 billion to keep people locked up. Many of the folks in prison absolutely belong there. Our streets are safer thanks to the Brave Police Officers and dedicated prosecutors who put violent criminals behind bars. But over the last few decades weve also locked up more nonviolent offenders than ever before, for longer than ever before. Thats one of the real reasons our prison population is so high. In california, efforts to reform the criminal Justice System are already under way. One year ago, voters passed proposition 47. The landmark law reduces certain nonviolent crimes from felonies to misdemeanors. It also gives felons convicted of those crimes an opportunity to have their sentence reduced. Is prop 47 working . Joining me to help answer that question are george gascon, San Francisco District Attorney. Brandon martin, Research Associate for Public Policy institute