And the nasdaq is up by nearly 31 . By the way, if those numbers arent big enough for you, check out how far stocks have come from their march 2009 lows. The dow over that time period gaining nearly 145 , the s p 165 , and the nasdaq nearly 213 . Yeah. March 2009 lows, what a long way weve come. As you take a look at futures this morning, theyre flatlining at this point, probably unsure what to do after yesterdays big gains. As for the rates with the tenyear, at this point the tenyear is yielding 2. 782 , so below 2. 8 , but its been rising and rising on the expectation that the fed is going to have to start tapering at some point, and that will eventually lead to higher Interest Rates. The obama rallys in full force. 2009. What happened in 2008 . The election. Yeah, thats right. Here we are, baby. Rich people are getting richer, though. Thats the only problem. I know thats your new problem. Heres my two anecdotes. Yesterday, over at the gym trying to, you know, get rid of whats the na
Exchange , mark, gene and our own rick santelli. Art, let me start with you. Is this a rise above rally . Does it look like we might get a deal . Weve been rising above the levels weve been at. No question about that. Traders felt reassured coming in this morning. Washington is a ghost town. The president s out of country those are good things. Congress is not coming back until next week. No one will go before the cameras and jeopardize the cliff. The only file you have to run is the kumbiya moment after the meeting. They said nothing across the pond will hurt us, lets buy here. No sense of urgency right now. Does the market feed off that . Is that whats going on here . I continue to look at the treasury market. You can look at a chart overlaid with the stock market. We were following themmer earlier, especially with the opening you describe, then it started to fall off. Treasury market seems unimpress unimpressed. Im in agreement with art, which is a good thing because art is mostly r
Their coverage entirely. To help sort this out were joined by dr. Sreedhar potarazu. Dr. P, welcome to the show. Thank you. Gerri what are the big problems . The big problems are people not being able to sign up and adequately verify their income or falsely reporting what their income is. As you know, part of it has to be selfreported right now which wasnt the original intent. But is the way that it works right now. There is a lot of room for errors. When you have to verify income and as well as eligible requirements this is where the two Million People and probably more are falling through the cracks. What will happen is, is that if in fact the government find out that people didnt report their income accurately, they may go after them on their tax returns. Gerri lets break this down because you covered a whole lot of ground there. First of all, how did the government even know im reporting the wrong number for income . So theyre going to eventually go back and look at your tax return