Another busy day for earnings after the bell. Cvs and news corp. Will lead the charge. Well have analysis of all the numbers. Before we get to all of that, lets look at where we are in the markets right now. The markets have been whipsawed today by International Tensions. The dow down as much earlier in the session as 93 points. Right now were down about 75 so we are headed back towards the low, 16,368 is the level there. Nasdaq is off 15 points. S p 500 is off ten. Tyler, it is now down to 1,910. Joining our Closing Bell Exchange this hour, heather hughes, meg green, larry mcdonald, and our very own rick santelli. Welcome, one and all. Rick, id like to go back to something that you showed graphically. Might not work quite as well without your graphics. On power lunch, you looked at the performance of some bond charts versus the equity charts. Would you sum up what you were saying there . I will. As a matter of fact, were going to be showing those same charts right now as i talk. If yo
Punishments. Im not saying the big banks arent sinners, you would almost think theyre the only ones sinning. You would almost think washington wasnt encouraging then later demanding banks get off the lending stick and lend more. You would think barney frank wasnt making mortgages for damn near all the land. You would think congress had nothing to do with Community Reinvestment act that turned mortgage longed its head. And the financial titanic on its way. You would almost think congress and president s under both parties hadnt loosened standards to damn near a birth right. You would almost think the securities and Exchange Commission signed off on banks collateralizing the risky mortgages and selling them off to supposedly stupid investors who didnt know any better, just like you would almost forget when democrats were praising countrywide financials Angelo Mozilo as a pioneer for bringing invest officer to the masses before he was a pariah for bringing them to too many of the masses.
Punishments. Im not saying the big banks arent sinners, you would almost think theyre the only ones sinning. You would almost think washington wasnt encouraging then later demanding banks get off the lending stick and lend more. You would think barney frank wasnt making mortgages for damn near all the land. You would think congress had nothing to do with Community Reinvestment act that turned mortgage longed its head. And the financial titanic on its way. You would almost think congress and president s under both parties hadnt loosened standards to damn near a birth right. You would almost think the securities and Exchange Commission signed off on banks collateralizing the risky mortgages and selling them off to supposedly stupid investors who didnt know any better, just like you would almost forget when democrats were praising countrywide financials Angelo Mozilo as a pioneer for bringing invest officer to the masses before he was a pariah for bringing them to too many of the masses.
Headlines today. Phil mattingly reports on president obamas options in iraq. With amarx is in irbil focus on iraq passes oil fields. With theinterview Kansas City Fed president. But first, on this thursday, we begin with bank of americas rectal record settlement. The bank has agreed to pay nearly 17 billion to settle allegations that misled investors in the sale of mortgage bonds. It is the toughest penalty yet related to loans that fueled the financial crisis. We did the best we could. I am proud of the fact we established the working group the president set up in january 2012. The chase deal, the city deal, and this recordbreaking deal with bank of america are all coming out of the work of this National Working group that president obama set up in january 2012. He does not get mentioned a lot in the stories, but he put my office and others together and we started ramping up and that is why we are getting these recordbreaking settlements. Bloomberg reporter keri geiger has been follow
U. S. , so bright spot in europe, u. K. Obvious here in the u. S. , we have got a number of points, today initial jobless claims at 8 30. 9 45, loomer consumer comfort index, and at 10 00, the remember,ia fed, today is what, thursday, it is already thursday. Building permits and Housing Starts on monday came in very strong, a lot stronger than excited, so we will see what happens at 10 00. Earnings before the bell sears, dollar tree. Sears just came out with a loss per share of 5. 39. Loss share would be bigger than the one estimate we have somewhere in the neighborhood of a two dollar deficit. Mia more on that i go right to equity on the bloomberg terminal . Where is my catalog . A 79. Ectric guitar is the ken low washer, right . Comparable sales of fullline stores in the Second Quarter up by. 1 . It is yet another loss. That is again if i am counting here the sixth consecutive 11 out of 12s, and like yeah, it is ugly. When you adjust for onetime items, it is two dollars . 87 per shar