Melissa back to the markets. The dow ending the day down more than 50 points. It had been down nearly double that. Todays big drag, nike, proctor gamble, apple as well. Trader Scott Shellady at the cme, watching oil and gold fall. Lori rothman is on the floor of the new york stock exchange. Lori you have your eyes on two consumer stocks with doubledigit losses today. Reporter no surprise on hershey. They were doing a flirtation with mondelese, maker of cadbury eggs. Mondelez said no deal there. 125 per share. They could really not come to terms on proper valuation. So you see hersheys stock really getting slammed, interesting down below 100 a share with a 10 and 3 4 decline today. D and w, Discount Shoe retailer after disappointing earnings. Dsw disappointing numbers, down by a third. That has got to hurt. Apple is the surprise story of the day, slapped with a back tax bill of 14 1 2 billion dollars from the European Union to be paid to ireland. Apple and ireland agreed to a tax deal i
Hallelujah now, i for one think that oil is going to stay lower longer. We ran up to that 34 level as we did earlier today. We start getting some real resistance because there are so many strapped Oil Companies out there that need to dump crude on the market or sell futures to its almost impossible to get over that 34, 35 hump. Thats why i urge you to understand the rhythm we have got going here in this market and recognize that occasionally well get selloffs in the stocks of companies that deliver fantastic quarters but have the misfortune of reporting on a day when oil goes down. That could be where the opportunity comes in. What do i mean . Lets take salesforce. Com which reported the best quarter of any Technology Company in 2016. You know i dont likikto chase. The stock missed almost 10 after the quarter. I said you have to be careful because there could be some turbulence that could bring it down. Salesforce itself which obviously did a great job. Chance. I suspect if oil opens l
You can bet that even a mediocre quarter will be rewarded with applause and a rally. Hallelujah now, i for one think that oil is going to stay lower longer. We ran up to that 34 level as we did earlier today. We start getting some real resistance because there are so many strapped Oil Companies out there that need to dump crude on the market or sell futures to hedge and bring in cash. Its almost impossible to get over that 34, 35 hump. Thats why i urge you to understand the rhythm we have got going here in this market and recognize that occasionally well get selloffs in the stocks of companies that deliver fantastic quarters but have the misfortune of reporting on a day when oil goes down. That could be where the opportunity comes in. What do i mean . Lets take salesforce. Com which reported the best quarter of any Technology Company in 2016. You know i dont like to chase. The stock missed almost 10 after the quarter. I said you have to be careful because there could be some turbulence
To it. Thats why this market started so strong today and then petered out when oil reversed. Closing down 57 points. S p backsliding. 19 . Nasdaq. 18 . Oil was strong. This oil makes everything very difficult to figure out. Because if a Company Reports an amazing quarter on a day when oil goes down, the stock will get hit regardless. But if oil is flying buy, buy, buy you can bet that even a mediocre quarter will be rewarded with applause and a rally. Hallelujah now, i for one think that oil is going to stay lower longer. We ran up to that 34 level as we did earlier today. We start getting some real resistance because there are so many strapped Oil Companies out there that need to dump crude on the market or sell futures to hedge and bring in cash. Its almost impossible to get over that 34, 35 hump. Thats why i urge you to understand the rhythm we have and recognize that occasionally well get selloffs in the stocks of companies that deliver fantastic quarters but have the misfortune of
Tweet me jimcramer. Weve had a good week. The economys better. Maybe Earnings Seasons been terrific. Weve been going higher because oils going up. And theres really nothing else to it. Thats why this market started so strong today and then petered out when oil reversed. Closing down 57 points. S p backsliding. 19 . Nasdaq. 18 . Oil was strong. This oil makes everything very difficult to figure out. Because if a Company Reports an amazing quarter on a day when oil goes down, the stock will get hit regardless. But if oil is flying buy, buy, buy you can bet that even a mediocre quarter will be rewarded with applause and a rally. Hallelujah now, i for one think that oil is going to stay lower longer. We ran up to that 34 level as we did earlier today. We start getting some real resistance because there are so there that need to dump crude on the market or sell futures to hedge and bring in cash. Its almost impossible to get over that 34, 35 hump. Thats why i urge you to understand the rhyt