have been lost as a result of all of that. the biggest blizzard though turned out to be inside the new york stock exchange today. well put. take a look at what s happening in the market. we are geared up for a negative start then got a flurry of earnings. caterpillar disappointing. microsoft didn t help thing. both stocks getting hit hard. what s interesting, that s contributing to the dow being a weaker performer than the s&p today. it s off 231 points. the s&p mean while down less than 1%. so you could argue perhaps it s an oversized reaction to a couple big companies, but by the way, they re important companies, and by the way, the nasdaq also off 1.3%. if we get a moment could we see crude oil settled higher. we did see a comeback in that sector and energy was one of the leaders to the upside in an otherwise down day. crude oil was up 2%. it was up 3% in the settlement. we re in the electronic trading right now. in fact, i will just point out, the aaa daily national a
the dollar is stronger. gold is down sharply. all the markets telling the same story. and there are plenty of investors talking, joking perhaps about the property that they are looking at in greece in italy, across europe because if you want to there s the euro/dollar today up another 1.5%. the low $10.09.109 $1.09. extraordinary to remember a couple years ago when it was at $1.40. that will have a huge impact on their economy and on ours as well. book your vacations to europe. europe is on sale this summer. with just an hour to go before the close, a steep sell-off. the dow is off almost 300 points. off 277 this hour. it brings it to 17,861. the nasdaq is off 56. 4,926 for that index today. here we go. time for our closing bell exchange. dorothy weaver of collins capital is with us today. formerly of the board of the federal reserve bank of atlanta s miami branch. jeffrey cleveland from payton and regal. our even steve liesman and rick santelli santelli. steve, p
we re seeing right now. we re trying to parse that out. that s what makes the markets so interesting. let s start here as we head into the final hour with where we stand on the major stock market indexes indexes. the dow is up 168 points and remember we ve had many, many more 1% swings this year than we had last year, and today by the way, we ve had them in both directions. the dow is up about 170. the s&p is up 18 points right now, nearly 1% there to 2085. the nasdaq adding 36. it s actually the underperformer on the session to 4,922. we ll also and we ll get to this in a moment talk about what we re seeing across the benchmark interest year 10-year. have to talk about oil as well. very strong. i don t know if you can show oil right now, but last i saw it was up about 5%. it s now 6.25% gain for u.s. oil. wti. that s at $52. brent north sea crude is at $58. that almost feels like a short squeeze. let s all make sense of this. all of our guests today except rick are o
futures are up 10%, consumer stap ems flattening out. and two of china s richest men lost billions in just a few hours. we ll tell you who they are and how they did it. but we start with a very rough trip for mcdonald s. protesters have hit the street outside of the company s shareholder meeting. they re protesting low wages. kate rodgers has been monitoring that meeting. the protests and the stock, which as we mentioned is trading down by about 0.8 of a percent today. kate. well today was ceo steve easterbrook s first shareholder meeting in oakbrook illinois where he acknowledged mcdonald s challenges and touted his turn-arounds. the biggest takeaway was a clear win for shareholders. one of the measures passed was a proxy access by law. those who have held 3% of mcdonald s stock for three years to propose director candidates on proxy materials. this was a shareholder proposal that mcdonald s did not want to pass but it passed with 61% of shares voted. this is a way to
thing virtually all investors are focused on the timing and speed of rate hikes. central banks benchmark short-term rate which affects everything from mortgage rate to auto loans has been near zero since december 2008 and since they ve been so low for so long a lot of anticipation aboutn liftoff might occur. yellin s comments come weeks before the next meeting and despite the concerns the economy might be slowing. steve leishman has the details. janet yellen saying today she believes the rate hike will be appropriate this year if the economy improves as she expects. i think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy. to support taking this step though i will need to see continued improvement in labor market conditions and i will need to be reasonably confident that inflation will move back to 2% over the medium term. yellen was clear expectation is fo