Im sara eisen look at whens driving the action higher. A thaw in the trade war again. U. S. And china resuming tariff negotiations in october. Strong Economic Data helping ease some recession fears and the s p moving back above the 50day moving average. Key technical level. Tech stocks are leading the rally. Two big interviews coming up on closing bell. Box Ceo Aaron Levie and with Consumer Staples near alltime highs kimberlyclark ceo michael hsu will join us see both interviews only right here on closing bell. Joining us for the entire final hour of trade is stephanie link. Welcome back, stephanie. Thank you. So are you a buyer on this trade rally . I bought a couple things today. I added to a few positions, nothing new, nothing big, but i think the debate will continue are we going into a recession or seeing Slower Growth i have been saying i think Slower Growth mode and a lot of that because the consumer has been quite strong. I know a lot of people talking about that i spent this w
Mortar retailers led the market today. Even though it marked time awaiting tomorrows job market. Indeed rising 2. 5 . Despite the churning and fl flopping, the stocks of so many household retailers, kohls, macys, nordstrom, target,elle bra brands, bed, bath and beyond and costco all soared. While amazons winning streak finally came to an end with the stock, up 20 for the year, down 11 bucks today. What happened . Are people suddenly going back to the mall . Are people saying, i want to try things on . Today was a relief rally and numbers came down too far too fast and numbers werent quite as bad as people had feared. Definitely not good numbers but when youre as negative as most Portfolio Managers have been on retail it doesnt take much to get it raising. Consider when smokey the bear suggesting a few burning embers left over from a campfire could burn down the whole forest. Today, we had a forest fire in retail. In the last few weeks we had pretty horrendous retail stories out there i
Flatter . If it was zero. Ditto for almost all of europe. Hardly anything there. Crude oil at this hour is stronger by 37 cents, 45. 93. That may be because the dollar has taken a breather after its rampant run. It was one market that just kept going and going. Today a bit of taking the edge off. Carl icahn warns that the strong rally in stocks since Donald Trumps election might be overdone. Even more overdone than the overdone market that hes been warning us about for the last six months, maybe the year before that. Ive known him 20 years, hes been warning me for 20 years about the market. Speaking at a conference yesterday, icahn says investors can expect trump to help fix washington and improve the state of the economy. Icahn has been a strong trump supporter. He said he bet about a billion dollars on u. S. Equities after leaving trumps Victory Party early last wednesday morning. Thats interesting. Before the election how many times have we had this as a headline . I stand over ther
Thousand manufacturing jobs at a furnace plant in indiana. More on that in a moment. First to the bigger picture. There were signs today that americas long suffering Manufacturing Sector isnt quite so long suffering anymore. Factory activity expanded in november more quickly than in any month since early last year. The closely watched institute for supply Management Index showed a pickup in production and new orders, a sign that demand will likely remain solid. The positive news follows a rocky few years for manufacturing companies. Theyve been hit by weak business spending, a sluggish Energy Sector, and a strong dollar. Todays report is good news for the more than 12 Million Manufacturing workers in the United States. About 9 of the nations workforce. And it comes ahead of the release tomorrow of the Monthly Employment report. Thats the last major piece of data before the next fed meeting. But it was in indiana where manufacturing workers may have been the happiest. Today, president e
Thousand manufacturing jobs at a furnace plant in indiana. More on that in a moment. First to the bigger picture. There were signs today that americas long suffering Manufacturing Sector isnt quite so long suffering anymore. Factory activity expanded in november more quickly than in any month since early last year. The closely watched institute for supply Management Index showed a pickup in production and new orders, a sign that demand will likely remain solid. The positive news follows a rocky few years for manufacturing companies. Theyve been hit by weak business spending, a sluggish Energy Sector, and a strong dollar. Todays report is good news for the more than 12 Million Manufacturing workers in the United States. About 9 of the nations workforce. And it comes ahead of the release tomorrow of the Monthly Employment report. Thats the last major piece of data before the next fed meeting. But it was in indiana where manufacturing workers may have been the happiest. Today, president e