I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is beginning and might tighten as many as four times this year. Since then this horrendous sell off in china. Its silar tthe destructe force that dcended un our marketlast augt. Backhen ifou recl thfed was out pull e triggeon ra hikbut they tught betterf it. Now th tyreuyin they he chos to ke one input tter me than a oth inheir disio to rae rateand that thenly inpu plumting andasing flatn. Itshat hiring is od which meanif we get a robust employment number tomorrow morning we could finourselve do subantially becauset wod mean more talk thathe fed must ti
It is the worst trading days for the s p as well at the beginning of the year. Throughout tonights show im going to talk about the proximate causes of going down. I do not like this market. I said from the moment that the fed started tightening that from now on we will be fighting the fed. Theyre not our friend. Theyre not our mortal enemy but theyre not our friend. Ever since the bottom in 2009 the fed was there to help us, or at least not hinder us. Were down 6 and we would finally be free of the chatter about what would be their next move but no sooner did they raise rates than they began to tell everyone that their job is beginning and might tighten as many as four times this year. Sincncthen this horrendous sell off in china. Its similar to the Destructive Force that descended upon our markets last august. Back then if you recall the fed was about to pull the trigger on rate hike but they thought now then theyre buying. They have chosen to make one input matter more than any other
Right now for the super bowl. Theyre thinking the bay area weather seems just awful. Well, normally thats true. Well were all slivering like oh my gosh, this is so cold. Well it will warm up as we go into the next couple of days. Its not supposed to be this chilly. Were in the upper 30s right now in the south bay and 41 degrees in the north bay. Highs today only in the mid to upper 50s and well have some rain. And unfortunately it wont give us a good soaking, more of a nuisance light scattered rain into the evening commute. Well talk more about that but lets see how the morning commute is going now with mike. Were going to take the shot of the peninsula. These are flashing lights, northbound 101 before you get to the University Avenue offramp. North of the embarcadero offramp. You see the folks shifting over to one lane to the left. Its causing a big backup for a couple of minutes, still a crew there, another vehicle yet to be removed. More traffic as we look at your map leads to a lit
Target practice. Given all the volatility weve seen, are wall street strategists s p targets about to change. Do you have an answer, mandy . Theat least i have some very smart people joining me through the course of the hour with their answers. Welcome back, brian. We missed you. Begin with the wild swings in oil. Those prices were down bigtime earlier but weve seen a massive rally to the tune of about 6 now building on the two previous big up days, keep in mind. But crude has now completely obliterated all of the losses it saw in august. It was down about 20 . Jackie deangelis joins us with more from the nymex. What was the major spark in this turnaround . Crude, jackie, and do people believe in it . When you look at session lows, 43. 60, were up more than 4. No one was looking for it in the morning. But the headlines came out that producers are now willing to talk about production globally. Opec saying that it stands ready to talk to other producers about the market but that it wants
16,464. A moment ago we were at 459. We are above that now. If you didnt know any better, you would think bill didnt miss anything. Everybody tuned in the last two weeks know bill missed the plunge of more than 1,000 points that monday morning, august 24th. I had no idea. That was my Moms Birthday actually the dow traveled 10,000 points more than that in just that week. Oil was bouncing all over the place. You missed its oneday biggest gain since 2009. There was volatility that started to happen before we left. That index did double in the month of august on a percentage basis. Today its back at 25 right now which in and of itself puts us in yellow flag territory. What did we learn . What does this mean, kids . This is the overarching question well ask as we watch the dow now having another big move. Its up 367 points on the session today. As for todays market move, financials and technology have been leading this way higher. Weve got financial analysts to tell us which stocks investor