Service sector, employment rose slightly and it was slowed by worker shortages, Household Spending was solid. Agricultural conditions across the country deteriorated some of the detail we were talking about in terms of around the country. Boston said signs of slowing were more widespread than they had been in the past chicago said manufacturing declined with a slight increase in growth overall. Kansas city had a slight expansion. New york reported a subdued pace of growth. And dallas a moderate expansion. Tariff guys were mentioned 24 times versus 24. Its been elevated as you know, for the past 1e6r8 months. Steve, thank you, sir steve liesman. Markets digesting the beige book lets go to bob pisani basically flat response here, with the s p down 8 bank stocks still slightly to the down side. The key is to watch the Global Growth commentary. Remember what happened yesterday . The imf lowered its outlook for Global Growth to 3 from 3. 2 back in july this is the lowest growth weve seen si
You heard about all the crucial inflation data this week. We have two wall street legends say the s p is heading higher. They have the same target. Ed yardeni and sam stovall are both on deck. Lots of blowups on earning season. Before youre tempted to pick the bottom you must listen to erin gibbs. She has information you cannot afford to miss. She will be here at 2 15. You remember the song or movie, give them something to talk about . The fed is talking but here is the problem, is it communicating. Judy shelton on why the feds messaging is falling flat. I had the honor of giving my first commencement speech this weekend. I will give you my speech for the class of 2024. All that and so much more on making money. Charles so the market coming off really good week. This part right here is all of last week, doing pretty good, coming up pretty good for the year right now. Heres the thing. It needed to make a stand last week, right the 10year, the way the feeling of this market, the bounce,
Into the final hour of trade here. Thats the case with the Dow Jones Industrial average and seems like a distant memory. That was just december 5th and almost touched that level and now back towards the 17,000 mark. S p today giving up 8 points and nasdaq off about 37. Oil itself touched new fiveyear low. Were wreaking havoc with the producer. Theres oil. Not much of a bounce there. Now 55. 51 and set the new lows again. Settling down about 3 and since as you can see down 4 continuing to trading and as you know to defy expectations of everybody who wants so december pra desperately to do the bottom picking. A fed meeting starting wednesday. And a lot to get to. Janelle nelson with us. Sam stoval. Daryl kronk. Peter anderson. And our own Rick Santelli joins us from chicago per tradition, as well. Sam, whens the target you guys at s p capital iq have for the s p for the following 12 months . Well, bill, our target is 2250 on the s p 500. Are you changing that as a result of whats going o
Between the u. S. And iran fail over nuclear weapons. Overall, a busy week over earnings and yellens confirmation hearings later in the week. The markets potentially taking a breather after the dow hit a new high friday, both it and the s p closed down a fifth consecutive week of gains. Volatile after Irans Nuclear program stumbled. Amazon strikes deal with the u. S. Postal service to deliver some packages on sunday, while the chinese rival ali baba wraps up 3 billion in one day. Transocean has a proxy battle. Well talk about that. We begin with the dow coming off another record high t. Blue chips up 4. 5 , marking five consecutive weengs of gains. Following one of the papers today, the front of the journal arguing the Retail Investor is somehow back. Stocks regain broad appeal, mom and pop, are they finding the markets again . My favorite subhead on that is, if you go on the web, you will see, its bad. I love it. It says, they used cause for concern in the newspaper version, but in th
And right now the dow is higher. But the s p is trading a bit lower. We should mention a lot of people are looking a t the moves weve seen in the 10year wondering if people woke up today, realized, oh, my god. Maybe tapering is tightening and stocks could have a tougher go of it. Well get into all of this coming up on the program. Also coming up, weve got two huge exclusive interviews on tap. Legendary investors jim chanos and bill miller. Their best ideas on a market many think is to fidefying grav looking forward to that. Today we get an exclusive read from zillows ceo spencer rashoff. Home sales dropped in the Third Quarter, we saw, for the Third Straight month. But zillow says that home prices are still on the rise. So what happens next year as the fed is tapering, presumably yields go up on the long end of the yield curve. That has an impact on Mortgage Rates. If Mortgage Rates are going up, what does that do to sales and home prices . Well talk with the ceo of zillow about that.