World. But today most trading in stocks is done elsewhere by Robot Computers that buy and sell in microseconds, faster than you can blink an eye. And the computers have done so well that some institutional traders have come to believe that the game is rigged. Are humans ever involved in the trading . Humans are not involved in the trading because humans are way too slow. [ticking] there are close to 850,000 of them in the United States, twice the number of atms. The new slot machines, the Main Attraction at casinos, are like hightech video games. And states across america are increasingly relying on them to raise revenue 38 states and growing, including pennsylvania. But the former governor ed rendell didnt appreciate some of our questions about it. You guys dont get that i do get it. Youre simpletons. Youre idiots if you dont get that. Welcome to 60 minutes on cnbc. Im steve kroft. In this edition, we look at the world of big deals on wall street and in las vegas and examine the impac
Portfolio funds, and our own rick santelli. As mentioned, were seven points out from an alltime closing high on the Dow Jones Industrial average. Karen, whats it mean to you here . It means that we could definitely go higher. Its just a number, and everything is coming in better than expected, Economic Data, corporate earnings. So, i see us going higher for the rest of the year. Looks good. Everythings coming up roses. Michael pagino, do you agree . I would say those are all true, but for every one of those positives, theres a negative. You know, housing has slowed down, equity prices are not cheap, theyre fairly valued. So, values are harder to come by in the market. Youve got geopolitical risk that i think investors are largely ignoring at this point, its impact on economics, because everybodys been focused on the u. S. And the fed lately. And so, i think there are some negatives, but i would agree, as long as the moneys easy and corporate earnings and top line growth continue, then
A year ago. A little bit of perspective. Home prices rose a modest just under 1 . What does that suggest . May be a slowdown in the works. Everyone has wondered about that. Housing is not the only bright spot. A handful of Retail Stocks touching an alltime. Nicole petallides on the floor of the New York Stock Exchange to talk about sparkling retailers. Reporter the day after thanksgiving. Amazon already started their black friday deals. Every ten minutes they have some sort of deal. That is really what theyre going to see with the holiday season. In the meantime, stocks are doing so well. Moving some highs. Macys, tiffany, and walmart as well as limited brands. But you look at these names doing well and touching highs. But also outperforming the s p 500. But they are still a performers with amazon of over 50 year today. Limited branson 38 . Tiffanys up 54 . Doing so well not only here at home, but also abroad so much so that they raise their fullyear numbers. Japan and china. Ninetysev
We are live in Atlantic City. But we head to the floor of the new york Stock Exchange, Nicole Petallides. Theres some green on the screen. What have you got for us . Reporter i enjoyed watching some of that gambling video, looks like fun. All up arrows. No record on the dow, no record on the s p today. I know youre used to me saying it, but not yet or not today. But for the nasdaq youve got the record, okay . 4,017, a new intraday record that we havent seen since the year 2000. All three have up arrows, the nasdaq up onehalf of 1 . The vixx, the fear indeck, pulling back a little bit. Lets take a look at some names that are hitting new highs, right . I said no record highs on the dow, but you do have on the nasdaq. Walmart and nike, these are dow components that hit highs, American Express and also travelers, macys not a dow component. New highs also some others worth noting, Southwest Airlines hit a high, pulled back. Well watch that, obviously, as people are trying to get where they
Helped the group overall. It was the biggest jump we had seen increase in over 33 years, however you are seeing pulling back. Kb homes within a barrel. People buy between now and spring because that is the hot season. Adam Nicole Petallides, thank you very much. Wall streets fear gauge is still gaining ground. In the pits of the cme. A whole lot to talk about. On track trifold largest streakf gains since last year. Phil you consider a market that had no fear. Stocks are going up, the vexed at a low level. All changing, up almost 18 in those last six days and i can see why. The party in the stock market has been going on for quite some time. We had to face important job numbers this weekend as well as a strong possibility the fed is going to lay the groundwork for tapering before ben bernanke leaves office. Might as well give ben bernanke all the heat so janet yellen doesnt have to take it. They have a right to fear. It impacted precious metals. Iif you are not afraid of anything, buy s