i think the fed is itching, wanting to raise rates for some time. i still think the reflation trade is there, but you are going to have some around that. i think it has had an air pocket, but the reflation trade is still in place. we are pleased with what going on in the unemployment picture. job creation remains solid. the jobs number is a good number. i see the labor market as continuing to heal. there is room to maneuver, but we are a long way from full employment, and wage growth is a long way from where it would be if we were close to it. people have confidence this administration can not only get the big themes out there, but can deliver on them. if he wants to make everybody happy, including his base, he has to do with the real policy stuff, not just send out tweets. there are a few bleary eyes in london and maybe a few surprised faces. i think what the business community wants to see now with a new government in place is the economy at the top
i think the fed is itching, wanting to raise rates for some time. i still think the reflation trade is there, but you are going to have some volatility around that. i think it has had an air pocket, but the reflation trade is still in place. we are pleased with what going on in the unemployment picture. job creation remains solid. the jobs number is a good number. i see the labor market as continuing to heal. there is room to maneuver, but we are a long way from full employment, and wage growth is a long way from where it would be if we were close to it. people have confidence this administration can not only get the big themes out there, but can deliver on them. if he wants to make everybody happy, including his base, he has to do with the real policy stuff, not just send out tweets. there are a few bleary eyes in london and maybe a few surprised faces. i think what the business community wants to see now with a new government in place is the economy at
session highs it was up 163. of course, plenty of attention on crude oil rising after that china rate cut. bob, a different pood today? yes. we have a rally, but not an enthusiastic rally. it was 5-1 at the open. we should have gone better. the volume is only moderate. it drifted lower. the buyers are not enthusiastic. i m not seeing people go after stocks beaten up. s&p 500 has been sideways except for a dip in the middle of the day. up roughly 300. a few sector-specific movements. home builders have been weak. toll had a report where earnings missed expectations. growth is slower than expected. elsewhere it s the enthusiasm or lack thereof i m interested. freeport-mcmoran is now down. we should have been doing better. some big multiindustry companies. textron, united technology. 3m. down right now. we should have seen this up on bigger volume if you had enthusiastic bounce back. we re fine. we ve got a bounce back. i don t see a lot of buyers coming after the market right
can you even imagine? well, it was pretty dramatic back then. back then, i was anchoring for the old financial news network, and on that day is that ron burgundy no look who that is that is a very young paul tutor jones. oh, my goodness. this is back when paul used to take my phone calls call me again, paul. we d love to talk again. anyway, he was on the floor i love that stache. talked about what happened, what was going on, what he was thinking. did you lose the stache after the let s see, that was in 87. i lost the stache around 88 or 89 yeah wasn t long after that. not too late to bring it back. i think it is by the way, paul tutor jones is lauded for having kind of foreseen that drop was happening. let me tell you, i mean, we were friends back then he was a very still is very, very smart trader. he came up out of memphis trading cotton futures. wow and he s very savvy trader. very, very savvy trader. i mean, no surprise that he
china overnight, some pressure in the u.s. concerns about greece. dow is down 91 points. s&p down 0.5%. nasdaq which made a record run this week, giving up about 16 points. 5116. let s start with big movers to the up side. a number of initial public offerings heating up today s market action. bob pisani has been watching them. we had excitement yesterday with fitbit. we ve got two today changing things. the disappointment is mind body. wellness industry software priced at $14. almost immediately broke the syndicate bid. that is not a good sign. drifting to lows today. that is a disappointment. on the plus side restaurants are are hot. wingstop is up 55% from its initial price. bojangles up 28%. next week we ll have the biggest week of the year. 14 ipos, north of $2 billion raised. the biggest will be trans union the credit counseling firm. four health care companies, three cloud-based companies, knee three energy companies. why is it heating up? the markets are holding up