At the nyse. Welcome, michelle. Hey, tyler. Thanks. We got a nice triple digit rally today. Going to start with a market alert on this big day for the markets. Robert pisani, whats the story about why were climbing today . Nobody is around in congress to say anything bad about the fiscal cliff. Everyone said, hey, were looking good president in bangkok said things are looking good. Pelosi came out, representative pelosi, speaker of the house, said we can do a deal. Everybodys happy. Then they all left. There is a recess. Nobodys coming back with a fiscal crisis. A week and a half. That means theres no bad news. What sectors were most beaten up in the recent election . Tech, telecom, energy and utilities. What sectors are up the most today . Tech, telecom, energy and utilities. Coincidence . Wall street. Dont you just love the whole thing . The important thing is were getting a little bit of gyrations in the gur reuro beca there is a finance ministers meeting tomorrow morning. Thats hel
I still believe anyone can turn a profit in the stock market. As long as youre willing to put in the time and effort to keep track of what you owe. I wouldnt come out here every night and try to educate you if i didnt think this was more than just a theoretical possibility. But its feasible. For the vast majority of people watching the show. You can succeed at managing your own money. If thats the case, why is it so darn difficult . How come so many People Struggle to make money in the market . How can i believe that its possible for to you beat the averages. The s p, the dow jones average when so many people so regularly fail to do so . Simple, you can do it. But youve got to do it the right way. One of the biggest obstacles to successful investing is the lack of clarity about what is the right way to do it. What is investing supposed to mean . Ive seen countless people try to follow conventional wisdom about Money Management only to have their investments wiped out because convention
Its not just all a big joke. But most of the time, most of the time losing money month after month after month or year after year isnt a good way to make money over the longterm horizon. But a lot of them dont transfer into longterm gains if you wait long enough like so many people think they do. Yes, money making over the long haul is the ultimate goal in this game. But its also become the ultimate excuse for shortterm losses, for shortterm thinking. And believe me, that kind of thinking will only make you a worse investor. Before i can teach you how to invest for the longterm, ive got to disabuse you of the longterm alibis youve been fed for all years. Where do these sirens lead you astray . At what point do you need to cover your ears so you wont listen to the conventional wisdom and end up steering your portfolio on the shuls. First and foremost, longterm investing is not the same as owning stocks for the longterm. In other words, please dont confuse being a good investor with the
Or not . And more private Companies Say their businesses with the government are already forcing them to layoff and furlough workers due to the Government Shutdown and the warnings are getting more dire about what we might see next week. All of that straight ahead. Tyler is out this week. Bill griffeth is joining me today. Hello, sue. Coming up, john harwood is speaking to the president exclusively in a couple hours. We will air on my show at 4 00 eastern time on closing bell just under three hours from now. John at white house to give us a preview on whats on your agenda. A lot of people are talking. There is a lot of conversation going on. The president s been meeting with bank cease, jamie dimon, lloyd plablankfein, people like that, members of congress, top four leaders in both parties coming in later this afternoon and appears that were beginning to get in a zone where there will actually be a negotiation. The house moving today to pass some rifle shot narrow spending bills. Senat
Weve got someone from the administration to explain what in the world is going on. And another union may soon invade the south. The last one burned atlanta. The union army. Will this one burn all those manufacturing plants and jobs to the ground . Were talking unionizing. Sue is at the nyse. Hi. Its a down side day. Right now where we were momentarily again, the Dow Jones Industrial average off about 100 points on the trading session, s p down 9, nasdaq down 29. Thats the biggest percentage move to the downside. The russell 2,000, the broadest index is down almost a full percenten. As for Interest Rates, the yield on the 10 year is 3. 623 . The oil and gold market going in opposite directions. Comex up 14 bucks but ice brent is down about a tenth of a percent. Down 8 in month. Were seeing gasoline under 3 bucks at some stations around the country. And the volatility index known as the vix up 10 in a week. It is up almost 11 . At 1855. Ty, up to you. All right. Thank you very much, sue.