the dow gained 145 points. the nasdaq pole vaults 1.35% another record i say blame the short sellers. look, i know the shorts catch a lot of flack by betting against stocks in the hope they ll go lower. we all acknowledge short sellers serve an important function in the stock market but it s easy to frame them as the villains when stocks go down. that s true. occasionally, even for me i do it i shouldn t. i used to make a lot of money shorting stocks at my hedge fund but that s not the whole story short sellers can serve as rocket fuel for a bull market. that s right in other words, when the shorts finally throw in the towel, and give up on the stocks they love to hate, these stocks tend to explode higher they have to because that s what happens when you have to cover your short exhibit a, hasbro. hasbro which we ll hear from later in the show. a monopoly money, not. here s a stock that s been a punching bag, like shooting fish in a barrel. today it reported an amazing quarte
another federal reserve meeting relatively unscathed but still need to face the uk s big vote on whether to leave the european union. fed agreed to do nothing and that keeps stocks on the agenda the place to get the short term for your money. the stock market rallied on the news as we sold off later in the day after oil plunged a dollar dow sinking 35 points s&p slipping 0.1% and nasdaq climbed by the same amount. still, i was pleased to hear that the fed paid no attention to the idealogues who want higher rates. why? boo! so they can be lower after they throw us into a recession. no. i m flat the fed recognized employment only grew by 38,000 jobs last month and that mattered to them. [ baby crying ] i like that they realize the economy is on a real slow growth path and that rate hikes aren t going to be able to come in lockstep. the rhetoric that drove the stock market down hard at the beginning of the year. i like these things because they mean the fed understands
The son of 118th NYS Assemblyman Robert Smullen remains in critical condition at the pediatric ICU at Albany Medical Center, according to a post today on his Facebook page.
Former New York State Assemblyman Marc Butler, along with the owners of the Waterfront Grille, hosted their annual tailgate party, raising funds for some very worthy causes.
The annual tailgate party just before the NFL Divisional Championship games has become a big tradition in Herkimer. Each year, the event gets bigger and bigger according to organizer Marc Butler, who along with Waterfront Grille owner, Rocky Fiato - sponsor the event each year.