Stay updated with breaking news from Ellen coleman. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
when the buyer s shares about guyer that tells you the market approves of the deal one of the main reasons why all three major averages had record closes today dow gaining 191, s&p jumping 0.57% and nasdaq 0.23% you have to wonder why they took so long. eliminating commissions on trading, well, they re going to make it on credit balances that forced the rest of the industry to follow suit. because the others made a lot of money from commissions their stocks were clocked. but charles schwab took advantage swooping in to buy td ameritrade for $26 billion and now they have 5 trillion under their belts. house of pleasure i remember goldman debated it schwab is less than 20 billion from you and gaining on you. very to wonder if schwab at this point has a better business model for the future particularly for millennials unless the apple credit card turns out to be huge goldman has catching up to do and could double its assets and still not come close to the new schwab a ....
tuesday is in the orange, or red, whatever color it is on your screen there. that is the last hour of trading on both of those days, and it traveled about 3500 points monday in just the last hour of trading, down 1600 points for a time, and then a 500 point or 900 point swing yesterday. as you mentioned, we had a big swing in the last few minutes here we ll see. anything happens in the final hour of trade. more from bob on today s move, bob? reporter: other things moving things other than the volatility index today. we were tooling along at a narrow range likely to the upside, and 1:00 hit this is the screen we have up here at 1:00 you can see we started moving down there on the heavier volume two things happened at this time we got a budget deal that implied greatly increased deficit, and we had a soft two-year auction what s the effect? the effect is bond yields moved up this has been a problem in the past, but, particularly, the levels we re at now, so bond yie ....
much power. yeah. black rock was beat. later this morning we do have more delivering alpha stars stopping by our set this morning including your capital management founder. this conference could start at 8:30 eastern time and the preshow starts right now. don t miss them. they will be on stage together later this morning so a very busy day ahead but first up to speed on the top deadlines. three big global market stories developing at this hour. parliament is in session. the government must vote on reforms that have creditors insisting on a bailout. then overnight in asia chinese gdp data coming in stronger than expected. 7% year over year in the second quarter. in other reports retail sales also topping forecasts and the main index is down about 3%. the boj leaving monetary policy unchanged today. that comes as expected. it continues to expect the economy to continue with a modest recovery. chair janet yellen will begin two days of semiannual congressional testimo ....
contest after the stock is up you re 100% right. we brought the stock high 40s and 50 and the stock went up to 80 and they re pounding their chest on tsr that it all occurred from when we got on the stock, but they were taking credit for it. now they have to take credit for it again. are there areas that are just off limits for you guys? i never see you come in on a tech companies even though there are tech companies that are loaded with cash but seem like the management isn t that strong. nothing you want to do? when you put 20% of your assets in a business you want it to be a stable, predictable business. most technology companies are too dynamic. you wake up and there s a couple of guys in a garage or women and they re starting a new business that s disruptive. if you look at the kind of businesses that both of us like we like businesses that can withstand the test of time. i try to stay away from things with things i can t control. we like businesses and i ....
48. road map begins with global head winds. u.s. futures taking a hit as china s market turmoil continues. seeing a little relief so far today and now investors turn their eye to the fed whose meeting kicks off. big names this morning include ford, dupont, and ups. merck reporting some mixed results this morning. first up futures rising as the s&p looks to avoid its first six-session losing streak in three years. another decline in china. shanghai down after an 8.5% slide. jim, you tweeted this morning the government took out some bad longs in china overnight. what does that mean? i m watch where the government is playing this and believe me the government is the natural buyer in this situation. they get the market come in bad. then they let the market drop about 4% and futures were down. then they just jammed it up plus one. then the sellers came in and they stabilized it. it s kind of a victory for the bulls because it didn t close down. a typical collection and ....