What has fueled this thing . We have a bunch of cattles. Lets start with the obvious, the darn thing wont go down. We had a ton of Federal Reserve officials talking about the need to raise rates. Be the market took it like a champ. The s p finishing up for the week. That was a signal. Signal that a rate hike can be handled without too much pain. The house of pain. Another possi of fed guns. Came back this week, and spoke incessantly about rate hikes. Now were rallying, and rallying hard. This market refused to go down on bad news. Something broader than fanning rallies or the minibull markets i talked about every night. Oils not finished going higher. I cant stress enough how important this is. We heard that oil was moving up because of a short squeeze that came out of the canadian wildfires. Production has been cut dramatically. Guess what . The oils back on line, and it didnt matter the price of crude is roaring back. This market has a hard time going down when oils up. The market se
Tell you that wisconsin voters will play a crucial role in determining Party Nominees on both sides of the aisle. On the democratic side, senator Bernie Sanders is looking to stretch winning streak. Hes won five of the last six contests. And recent polls show him leading Hillary Clinton ahead of todays vote. Senator ted cruz beating donald trump in the gop part of the race. A dominant performance could give cruz significant momentum heading into trumps home state of new york in two weeks. On the other side, could mean disaster. Both frontrunners spending the day anywhere but wisconsin. Trump, word is hes in new york. What will we see when the first returns start to trickle in tonight . Were going to ask former wisconsin governor jim doyle how voters in his state really feel . Plus the first head of state heads to roll following the leak of the panama papers. President obama fighting Corporate Tax dodgers and Charlie Gasparino on senator marco rubios next move. Less than an hour to the
On what were seeing on major heat waves. Well be exploring the markets all afternoon for the next two hours and beyond. Lets get more now on todays slide from bob pisani on the floor of the New York Stock Exchange. Bob . Hello, tyler, and what were seeing is a little bit of a reversal of some trading trends, specifically around the dollar and also to a trading around the dollar. Modest rally. Look at the dollar index moving down all throughout the quarter here. The lows recently. Thats reversed a little bit today and some people are debating. The dollar may have bottomed and that may have factored. Energy financial materials were weak today. You know what the market leaders are. Energy financials and materials this quarter and a very specific reap. Those are cyclical stocks. Very specific reasons why cyclicals have done well this quarter. Let me show you the q2 trade, the trade everybody is doing. You have the weaker dollar and combine it with a stable china and you combine that with o
Tyler, we begin with the selloff on the street. A triple digit drop for the dow with the major averages down more than 1 . This is actually we havent seen since late september for the dow and the s p. Weve been sort of a little bit complacent recently after all the volatility of late august and september. The nasdaq is down by just over 1 along with the dow and the s p. Lets get more with bob pisani at the nyse because you have fears, bob, about retailers reporting this week as well as, of course, the rate sensitive stocks in the firing line as well, right . Thats right. A number of different issues here. Six stocks declining for every one advancing. Look whats popped up again, the vix. We havent seen this move double digits since the end of september. Its 16 and change. I dont get concerned until its over 20, but this is a move we havent seen in the last five or six weeks. Why the drop . Mandy is right, a couple reasons here. There is continuing concerns about the reverberations on hi
An economic number tells investors the coast is clear. But this week the market has been tough to figure out. There were the paris attacks exactly one week ago and a fresh terror siege in mali today. More on that in a moment. And add to those jolts increasing fed chatter this week, pointing to not aInterest Rate hike less than a month from now. Usually not the best of recipes for stocks. Yet up stocks went today and this week, and by a lot. In fact, for the s p 500 this was the best week in more than a year. For the nasdaq the best since july. Here are the numbers. On the day the Dow Jones Industrials gained 91 points to close at 17,823. Nasdaq added 31 and finished at 5105. And the s p 500 rose 7 to end the day at 2089. For the week the industrials gained about 3. 4 . Nasdaq was up 3. 6 . And the s p 500 rose nearly 3. 3 . The dow and the s p are now positive for the year, joining nasdaq. Mark luchini joins us now to talk more about this weex stock market activity and what we can expe