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Expectations, both stocks falling. We mentioned somebody was listening in on the Conference Call and it caused that trader to hit the sell button we wont tell you which trader it was just yet. Tim, it wasnt you what did you make of the Conference Call . I think you have a case here where clearly the numbers on the headline looked fantastic. But what was really causing that, that was about provisions, that was about credit quality. Which, its strange because we were complaining that we were fearful that the banks had bigger credit issues that were being possibly seen on the headline and therefore they were putting aside the major reserves what jp morgan look, that beat was a combination of some very strong Investment Banking and fic business but alsos the provisions that came down. Thats something we should everyall ....
Rally. S p climbing 1. 54 . Nasdaq gaining. What happened to make everyone go from negative to positive practically overnight . Primary catalyst is the strength in oil. As long as oil hangs in there, roars higher there wont be big defaults in the oil patch, just small ones. We saw it today. The run on crude is incredible. Crude, crude everywhere and not a drop to be able to you cant find storage. You can always tell this kind of thing that oil is in control by looking at how the s p 500 futures trade before the stock market opens. The socalled overnights. Last night with oil up 75 cents the futures looked like they would take stocks up a half percent. As the oil futures traded up to double that, the s p futures suggested that the market would rally up a full percent. It is lock step. In the second positive factor, second factors crept into the market and well talk about it though its political. It is being over looked. Bernie sanders, looking like a paper tiger. With a small loss hes n ....
Brian Williams examines the days top political stories and current politicalcampaign news. You need a recount. If that is correct and get what it is, the other thing we know is they have apparently under state law until august 24th to certify this election. Were sitting here on august 7th, weve got 17 days, more than two weeks until this has to be certified. If you have that tenday waiting period and then it comes under 0. 5, you know, youre short of that certification. So the law isnt putting a real lot of pressure on them here to get this certified. The law as we understand it is saying its going to be ten days before they can open these. Again, if im a betting man, if you come out here and say, kornacki, your life is on the line, who is going to win this thing, i would tell you balderson, he looks in much better position than oconnor to win this thing. Are you telling me are you sure hes going to win it by more than 0. 45 points and therefore avoid a recount, oh, no, i wouldnt tell ....