And nasdaq at record highs as well. Financial itself, health care the best performing sectors. So which stocks back at record highs . And trump focusing on his progrowth agenda. Is this the trump rally restart . And if so, where do you put fresh main i money to work here and now. . I dont think it ever left. The market has been rallying for eight years. We can argue for why it hams. Where do you put fresh money to work . Thats the question. My answer is the following. Financials have been horrible for a month, monthandahalf and i have been wrong. But xlf against 23 is worth riskreward on the long side. Ibb very quietly had a big day above 290 again. Biotech has an ability to break out. I think your point is well taken. Steve, if the rally had stalled, taken a breather, taken a pause, over you want to characterize it, especially buying into the close has people asking, is the rally about to restart . I do think the rally is about restart. Today we have the first day of the month. I thin
Are soaring today after earnings were going to have ben axler who was sure to tell us what hes doing with the stock now. First, lets get to our Closing Bell Exchange for this day with the dow up 78 points in record territory samantha is with us. Shes at post nine with steve grasso from Stewart Frankel and rick stan telly, im sure is still reading over the feds statement that came out an our ago. Its very extensive there. You know, steve, we were talking last week about how even when a Company Reported better than expected numbers, the move higher for that stock was limited whereas if they came in below expectations, they were punished greatly this week, a whole different mindset it seems whole different script. When you come in with different numbers i think this market is really, i use the word torqued i feel it is torqued to want to trade higher waiting for an event to make it go all in. Last week we had netflix trade up 9, 10 after the print. Today, boeing, you start to see these th
President s or Interest Rates or macro concerns, control their own destinies. Today we got some decent numbers from some major banks, and they cast a rosy glow over much of the session until some lateday profittaking came in and the bulls nemesis, oil, turned down. With the dow ultimately dipping five points, s p advancing just 0. 18 , but the nasdaq gaining 0. 48 to still one more alltime record. Who is in the playoffs next week . Lets start with tuesday since the markets are indeed closed for mlk day. Before the open, we hear from Morgan Stanley and united health. I like them both. I think Morgan Stanley can report a clean, Strong Quarter although i dont know if the reaction will be as positive as the other banks. In large part because theres investor enthusiasm for the deregulation agenda of president elect trump and Morgan Stanley has already withdrawn from some of the areas that had gotten overregulated. Still i think this franchise is undervalued even at its 52 week high. If youv
Corporate tax reform, but before they can get to that Senate Majority leader Mitch Mcconnell said today Congress Needs to resolve health care reform. Listen. I think finishing on tax reform will take longer, but we do have to finish the Health Care Debate, up or down, win or lose, before we go to taxes. Kayla tausche is on capitol hill with whether the gop leaderships plan to repeal and replace obamacare is gaining any traction. I think they got it through committee, didnt they . Yeah, after 28 hours, bill, it got through the energy and commerce committee. That wrapped up a few moments ago. Health care is the First Political test for the administration and for this congress. Speaker ryan has been getting some help from the president and Vice President in making his sales pitch for this bill, but interestingly today i asked him how he plans to win over companies that will either have to accept or offer these plans theyve been so critical of the way obamacare was structured, and he said
Good morning. Im wilfred frost alongside Courtney Reagan in for sarah today. Good friday morning to you. We made it. Its friday. Nice friday song in the background for us. Sarah will join us later this hour with a preview of her exclusive interview with treasury secretary jack lew. She canceled todays holiday for this interview. Well worth it. It shows shes willing to cancel a days holiday for jack but not me. Try not to take it personally. I cant, its impossible not to. All of our viewer also watch that later starting from later this hour at about 5 45 today. Lets check in on markets at this hour. Yesterday was a disappointing day for markets. Down about a quarter to a half percent yesterday. We came off the lows for the day. The week as a whole, the dow down about 1 . Yesterday the banks were the worst performers. As you can see, we expect a bounce this morning, relatively small bounce. The dow called higher by 41 points. The s p 500 by 3 1 2, the nasdaq by 7 points. The tenyear trea