29 points. the nasdaq fell 11, s&p down 1. gold was up 11 dollars and oil moved down a buck 27. traders tuned in as outgoing chairman bernanke defended his policies aimed at economic recovery which included a massive bond buying stimulus program. mr. bernanke also says he anticipates a stronger economy in 20-14. and tomorrow. president obama will host an event at the white house for some workers whose long term unemployment insurance recently expired. he ll deliver a speech urging congress to pass a bill to extend those benefits when they return from recess today. chris gersch of altimus capital joins us now, good morning chris! good morning. we re now into the first few trading days of the year.what is your gut reaction about where this market is headed? my gut reactions is to really go with what history has told us. and with the santa claus rally that s adding up the five days after christmas along with the 2 days right after new year s. take those 7 days and if you comb
sanctions against russia for engineering the succession referendum in crimea. and he threatened further punishment. so what did the markets do? they all rose on monday and not by a little, especially the dow. after 5 sessions of gains, gold closed lower as investors moved into stocks. and after 2 up sessions, oil ended down. factories are crankin it up. u-s manufacturing output was bigger last month than it s been in 6 months. assembly lines cranked out more cars, chemicals and business equipment helping lift the economy from january s snowstorms. and it s the biggest study yet to see if the stuff in dark chocolate can in fact help prevent heart attacks and strokes. sadly for the 18- thousand participants, the nutrients will not be administed via candy bars but in pill form. let s turn to trader lincoln ellis. he s with green square capital. a lot of people might be surprised the markets went up so well yesterday. we have volatility, uncertainty and tension in crimea and yet
federal judge rules general motors is not required to pay $450 million to cover medical benefits for its retirees. the car company had a contract to make the payment 2 years before gm went bankrupt. it is considered a defeat for the autoworkers union. and, fidelity is allowing investors to place bitcoins in their iras. it s the largest investment firm to go the virtual route so far. no one loves a selloff more than todd horwitz of average joe options. good morning dr. doom and gloom. how are you today? > >good morning angie. how are you doing? > >i m doing well. stocks were dropping yesterday. did that play right into your hands? > >really, i m watching a couple of levels. i think that you gotta look for 1770 on the downside of the s &p. 1790 was my first level and i think you look at 1810. but really until next wednesday when the fed actually announces i think we re actually just going to trade in these ranges but i did think that we were going to work our way lower but it
financial crisis. and on march 10th , 2009 started the road to recovery. what a road it s been. friday, the s&p reached another new record high, closing at 18-78 as the jobs number came in better than expected with 175,000 jobs added. unemployment at a slight uptick to 6.7%. also on friday the dow rallied 31 the nasdaq pushed back 16 points gold plunged $12 dollars and oil continued to creep up, rising 97 cents.boeing is back in the headlines.the jet maker is inspecting the wings of 42 of its 787 dreamliners for hairline cracks. the wall street journal reports the issue may stem from changes in the manufacturing process by mitsubishi. it could cause delivery delays. scott bauer of trading advantage joins us on this monday morning. hello scott. good morning. how are traders likely to view this market anniversary day? it s really any other day. you can look back and say 5 years ago the s&p s were down ati don t even want to say that magical numberbut it s really just anothe
19 year old in the heart bleed cyber security breach case.the new york attorney general has subpoenaed a number of high- frequency trading firms.and, the stock market makes big gains as traders prepare for a long holiday weekend.the dow had a triple digit run, the nasdaq up 52 and the s&p 19 gold up $2 and oil 20 cents. plenty of traders and investors out there are asking which way do we go? we re turning to todd horwitz of average joe options for the answer to that. are you perplexed by this market? and is this just a matter of a lot of machines out there hitting these technical levels and then buying and selling? good morning and what s up. i think part of it has to do with the machines but we did hit the 200 day moving average in the nasdaq and in the russell which caused a natural rally. i think the markets are trading in a range and as we see over the last few days until yesterday s rally we had actually taken out the lower range for a while which was 1840. now the mark