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And oil is up to the tune of 25 . The jobless claims rocked the street. We were expecting them to be bad. We were not expecting them to be 6. 6 million bad. Jackie deangelis, jackie. Reporter good afternoon to you, neil. Lets go ahead to start with the tweet from the president that had the dow jones up more than 300 points now. The president said, i spoke to my friend, mbs, crown prince of saudi arabia who spoke with president putin of russia and i expect and hope they will be cutting back approximately 10 Million Barrels and maybe substantially more, which if it happens will be great for the oil and gas industry. The markets are rallying on this, because low oil prices are good for consumers and businesses that use oil. Statement, you dont want the price to be so low that the shale producers go out of business. That the Oil Producers have a hard time, staying, conducting, ke ....
Our road map this morning begins with the market moving on comments from trump on pharma, defense, automakers, what the News Conference meant for investors. Plus, trumps ally in the valley, peter thiel on the president elect with comments on apple and the stock market as well. Speaking of apple, new report the company is planning a significant move into original content. We will fill you in. First up though, futures moving lower a day after the nasdaq hit that record high. It was a rough day for biotech after shot heard around the pharma world delivered by the president elect at his News Conference yesterday. Our drug industry has been disastrous. Theyre leaving left and right. They supply our drugs, but they dont make them here. Theyre getting away with murder. Pharma, pharma has a lot of lobbyis lobbyists, a lot of lobbyists and a lot of power. Theres very little bidding ....
Articles about how the twitter deal signaled the end of the bull run. Today, dow up. Nasdaq advanced. 01 . We saw the quintessential top calling piece on the front page of the wall street journal this morning. Stocks regain appeal. Investors return to stocks which could be bad. Bad. Put aside for a moment the hilarity of the could be bad sub head. Bad for what . For individuals . The bulls, bear, eagles, country . For now lets focus on what i call the time honoredness of the could be bad exercise. First, it is true. Market had a 24 advance this year. Stock market has been a good place to put your money since the bottom in march of 2009. Second, individual investors are definitely more interested in stocks. As the article points out, 76 billion put in stocks versus the dollars pulled out. Im not oblivious to the steaming hot nature of twitter. As i said last all week, everyone has the right to overpay as long as they accept consequences including the responsibility something could go wr ....