why? well, look, there are a lot of positives there today. another virus drug goes into final clinical trials, and the fda gives fast track authority to vaccines. any good vaccine news, market likes it. the stock splits of apple and tesla producing more gains for those two key stocks. more on that in a moment. and the administration appears to want a $1.3 trillion virus aid package. that s helping. and maybe this too helping stocks, what s that? the democrats getting nervous about joe biden s chances. the polls are tightening in some key states. joe has been reluck about thely pushed out of his house to campaign. democrats are very worried about his performance on the road. and two prominent leftists michael moore and bill maher both acknowledge their anxiety. monday morning, last day of august and, yes, there is a chill in the air. varney & company is about to begin. [background sounds] out of the homes and into the streets! stuart: chaos in d.c. rioters hit the
records that were set for all the major averages, as upbeat car sales and expanding growth across the globe helped to lift stocks once again. the dow jones industrial average rose by 84 points, closed at 22,641. nasdaq added 15. the s&p gained five. and the rally isn t just here in the u.s. it s happening pretty much everywhere, as bob pisani explains for us tonight. reporter: stocks remained in record territory today as the so-called reflation trade continues to power the market to new highs. reflation means expansion of the global economy, a little bit of inflation, not much. central banks talked about raising rates. in t united states, the prospect of tax cuts boosting corporate profits in 2018. stocks have been rising in europe and asia as well. japan hit a two-year high today and stocks in hong kong were also near a two-year high. the effect of this reflation trade is that many sectors have been rallying, particularly banks, which do better in a rising rate environment
in today s first look: the stockmarket s fiscal lift. in the largest one-day move since december 2011, the dow soared 309 points wednesday after lawmakers agreed on a deal to avert falling off the fiscal cliff. the 113th session of congress begins today at noon on capitol hill. 2012 was a tremendous year for the wealthy. the richest people in the world added $241 billion more to their collective net worth and buger king is playing a game of chicken with mcdonald s. instead of chicken strips, bk is testing sales of chicken nuggets. bk hopes to fowl out the golden arches. mark sebastian of option pit mentoring joins us now on the show for a closer look at the trading day. good morning to you mark. > > good morning angela. > looking at what happened last year in the market and the market being so strong, is it better to not pay attention to anything that s coming off capitol hill lately and just pay attention to the fundamentals of trading? > > i think that makes a ton of sense.
ge has more cash to do things with. time and men s fortunes change. you go with the flow. every time they do a deal, they say it s great for both parties. stock goes up in one case and down in the other. ge is in one, can use the money, comcast in another and actually worked. worked out well. comcast has a great set of assets now a ge has cash to invest in what they want to do. we all do it differently in our times. jack, we love you, on valentine s day especially. happy valentine s day. merger thursday with all these deals. huge day on wall street. almost $100 million in fees for the banks. center view bank. make sure you join us tomorrow. happy valentine s day. congratulations to squawk. what a breaking news. warren buffett making a big deal with heinz. i m carl quintanilla from the stock exchange. kramer is off. we hope aol call in. heck of a week to take a vacation, one of the biggest months for m and a. year-to-date, m and a volume up 25%. berkshire hatha
oscar pistorius girlfriend has been shot and killed in pistorius home. we re live with developing details this morning. then the cruise from hell is almost over. we ve got live reports from the skytraking the ship s slow progress as it makes its way to shore. new information in the case of accused killer christopher dorner. the hostages he reportedly tied up at gunpoint speaking out overnight for the first time. and a massive airline merger this morning. u.s. airways and american airlines will join forces to create the world s largest airline. i will tell you what it means for your frequent flier miles and for your fares. among our guests this morning, two moms who have got young daughters on that carnival cruise ship that s now stranded in the golf. also we ll talk to ariana williams, a former girl friend of christopher dorner. and former l.a. police chief bill bratton will join us. richard simmons is with us and westminster s best in show winner, banana joe, is wi