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rally overnight in asia and shanghai, hong kong and europe een markets are following suit and a lot of green arrows across the board over there as well. our road map begins with the markets. the market set to rally this morning and the dow shooting for its 20th tuesday gain in a row. will the trend continue this. after the driller re-affirms its forecast. find out if you should be a buyer of the little blue box. valiant and astrazeneca making acquisition and faber will run through those details. we have more trouble for a cruise industry. a royal caribbean cruise ship catching fire at sea as it sails through the bahamas. is the cruise industry ever going get it together? concerns the fed might taper the bond-buying program sooner rather than later. futures up pretty sharply as the bank of japan and the ecb indicate more stimulus not off the table. the dow has yet to post a three-day losing streak so far this year. guy, the dow is up 63% of all trading sessions s ....
ventures out to the long end of the curve. the markets, multiyear highs, best two weeks since june. with the fed out of the way, we turn our attention from housing data and earnings from fedex. at&t says preorders for the iphone have broken records. will verizon and sprint say the same? meantime, yahoo! has officially ditched the blackberry, promising iphones and samsungs to all new employees. a report saying netflix is lose key content as early as this week while the stock has a dismal $50 price target. and gm reportedly wants treasury to sell their stake, saying government restrictions on pay and perks hurting his ability to recruit talent. but at what price can the u.s. really afford to sell? first, though, can the bulls keep charging ahead? the market s coming off a week in which the dow and s&p each closed at levels not seen since december of 07, spurred by the plan to embark on more stimulus. more than 20% of stocks in the s&p hit some new 52-week highs ....
particularly in china. a downgrade of coach putting further pressure on the sector. mcdonald s global sales meets expectations. where were the sales strongest? outside the u.s. and europe. only one day to go until the iphone 5 release. could the ieconomy help the u.s. economy? and facebook ceo mark zuckerberg going to hit the stage for the first time since the ipo at the tech crunch conference this afternoon. could that be a catalyst for the stock? but getting back to the high-end retailers such as coach, tiffany, ralph lauren under pressure after burberry expects lower sales. they suggest growth is becoming more challenging. they re down double digit percentages, last check about 18%. this is the biggest drop we ve seen since the economy ipo ed, and maybe we shouldn t be so surprised. they have the worst assortment of people who have lost their way. everyone says you should spread this out to others, go to a burberry store, you ll see what i mean, they re inc ....
close. down about 11 points on the session. the nasdaq and s&p holding on to the gains but they too gave up much of the earlier rally. we get straight to the markets, we lls fargo advisor is with me as well as rick santelli. how are you treating this rally here? a lot of momentum but volume deadly. yes, and what we ve been telling our client social security we don t want you chasing this rally. this is right in the target gone for the end of the year. i think we could go more, but i think traders should fade this rally. where are you? i would not chase anything. baeken down stocks like starbucks, caterpillar, and mcdonald s that hit short term blows. nobody believes the rally or wants to get involved. we re going to 3,000, be in cash, and the market continues to defy all of those predixes. what about you, rick santelli, the market has been saying something in fixed income for a little while here. yes, i have two observations. europe is the excuse here but if t ....