His annual vacation in hawaii to deal with the fiscal cliff. No sight of congressional leaders. Theyre not in town. Investors getting a little bit nervous. Will congress get it together in time . No talks that we know of are imminent. It was by at least one measure, the weakest Holiday Retail sales growth since the financial crisis back in 2008, but could a postchristmas holiday sales bounce be around the corner . And what a year it has been for tech. Gadgets and gizmos. Apple, facebook, microsoft all have big news. Will 2013 be a lucky year for the sector . Which tech titans might lead the new trends . Simon hobbs is in at the new york stock exchange. Good afternoon. When president obama arrives back in d. C. , can he prevent america falling over the fiscal cliff . House republicans havent yet called their members back to washington. Our chief political correspondent, john harwood, is with us. John, this feels very much like it might be the calm before the storm in more way than one.
Im jim cramer and welcome to my world. You need to get in the game. Firms are going to go out of business and hes nuts, theyre nuts. They know nothing i always like to say theres a bull market somewhere. Mad money. You cant afford to miss it. Hey, im cramer. Welcome to mad money. Welcome to cramerica. Other people want to make friends. Im just trying to save you a little money. I wouldnt cop out here every night to try to educate you if i didnt just think it was not just theoretically possible but actually feasible for the vast majority of people to succeed at managing their own money. So if thats the case, then why is investing so darn difficult . How many People Struggle to make money in the stock market in how the heck can i believe it possible for you to beat the average, the big benchmarks when so many Fund Managers fail to do so . Simple. You can do it but you have to do it the right way. One of the biggest obstacles to successful investing is a lack of clarity about just what in
Declared. Live in manila for that. First to my partner ty in washington at the major investors summit. Ty . Thats exactly right, sue. Thank you very much. Were here at the schwab Impact Conference. 2,000 registered Investment Advisors, many of whom manage your money, 1100 exhibiters here in my beautiful if often reviled hometown of washington, d. C. Well talk to some of those Investment Advisors and find out what theyre doing with their money, their views of the marketplace, later on this hour. A busy hour from the schwab Impact Conference, one of the largest convocations of its kind every year. Back to you. All right. Ty, thank you very much. Appreciate it. Well get back to ty in a few minutes. The dow and s p 500 trading about above the record closing high levels that we saw. Were up 1573 on the dow, the nasdaq is up 130 and the s p up. 72. The three majors averages up more than 20 this year. How much further can stocks go . Up, up, says seema moody, down down down says dominic chu.
Strong rally today. We punched through the previous high on the s p, as you mentioned, up 1850, and we continue to make gains. Bob pisani is with me. This is health care, energy and then some. Thats right. Its really across the board rally. People keep writing in, why are we up 200 points. The answer is theres no fundamental reason why we would be up 200 points. Its a technical rally. Put up the s p 500. We started hitting intraday historic highs on the dow right after the open about 9 45. 1848 was the old closing high. You got to 1850. You see the move jump up right after the open. Thats a technical move as we hit new highs, people started covering, volume picked up. You look at certain groups by the spdr, where a lot of activity is. Thats the way it is. Heres the midcap. Across the board, we are at new highs. Lets not quibble at a few points. Even the russell 2,000 just shy of a new high. I think 1182 is probably the closing high on the russell. Were close enough. You mentioned the s
Seismic action . And get this, two anchors under the same roof, sue. I know, who knew, who knew. Its great to be with you up here at headquarters. Lets focus on the dow. We had a very strong morning. The dow up triple digits earlier today. Right now, up 82 points, 16,330. The s p also had a firmer opening. Right now, the s p up almost 11 point, better of that. 5 . The nasdaq is the winner on a percentage basis. It is up almost a full percent on the trading session. As for Interest Rates, weve begun of course the twoday fed meeting. Right now, the tenyear yield is at 1. 674 . One of my favorite things to watch, the transports, up at 50 points to the upside. And comex gold with the market rallying, well, some steam coming out of gold, down about 11 bucks on the day. Big question for inest hafst ve and traders alike today is a plan to change the rules on highspeed trading. Would it make the markets more fair or would it make it worse . Now, some of the details on that. New York State Atto