Back into the black before drifting lower once again because bond yields continue to climb. And as we saw last night, the charts are still very much against this market, which is why the dow only finished off pretty hideously, going 105 points, s p slipping, nasdaq declining. 38 . The house of pain. It was like we rallied back up to the top of the cliff and said, i dont know, what the heck do we do now . And then we decided to walk back. We didnt jump this time. Although the averages still got whacked because we had nothing to buy when we reached the summit. Before we get to why the market bounced back but then returned to lower levels, we have to spend a moment talking about the instant reaction to the fed minutes. One month ago, the fed debated about what to do about Interest Rates. She they continue to buy bonds . Given the dramatic rise in the rates by the market itself, well, maybe they had to do something or maybe the attempt has failed. Or should it slow down the bond buying, ta
And find a solution. Among our guests, three men who understand washington, wall street and Corporate America very well. We have the chairman of president george w. Bushs council of economic adviser, ed lazear, roger altman, and real estate tycoon don peebles. But lets cover this mornings top headlines. We do have a lot in the corporate headlines this morning including Equity Residential and avalon bay communities agreeing to buy archstone from Lehman Brothers holdings. The price tag, about 6. 5 billion in cash and stock. The deal gives lehman cash to help pay its creditors as it liquidates. But it paid 22 billion for this company originally. So 6. 5 billion versus 22 billion, and you can see how lehman got into some of the problems it did. Also this morning, europe set to delay the introduction of stricter rules on bank capital. The eu reportedly prepare to go follow the United States while it lobbies for a reconsideration of the u. S. Stance. The delay could push back the start of ba
Just the past five trading sessions. David all right, vixx is always interesting to note, and whenever it is at a low which, indeed, the vxx is, now, this is remember, the vixx you cant trade on, the vxx you can. Its a volatility index, it hit a 52week low today. Some people would say perhaps thats too low, well have to be watching that very carefully. Liz just not a lot of fear in the market. Wheat, we should look at that. A huge mover in the commodity pits. This rally hits a two week high, and the move sent jjg higher. The etf investment, everything from wheat to soybeans to corn did well today. David all right, well, the white house turning to Small Business other thans for input on the debt crisis. Input on the debt crisis. Coming up, one of the Business Owners who was at the meeting. Liz plus, the Powerball Jackpot up to a record 500 million. We will ask new jersey lottery executive yes, new jersey participates in the Powerball Carol headinger about the payoff options and where al
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