Following betterthanexpected earnings from Morgan Stanley and comments by fed chair ben bernanke. The nasdaq added on a point. Gold gained 6 dollars, and oil 1. 74. Tech trading trouble is possible today. Google shares tumbled about 5 on earnings that fell short. Microsoft was also shy. Its stock dropped 4. 5 in heavy trading volume. Detroit has filed the biggest city bankruptcy ever in u. S. History. Motown is struggling with billions of dollars of debt. And, the latest Mortgage Rates declined. The 30year fell to 4. 37 . The 15year to 3. 41 . Chris gersch of altimus capital joins us on the show. Good to have you back with us chris. Good to be back. And the market hit record highs yesterday, but today is options expiration day. Theres a lot going on here. What do you expect . I think were going to have a really scary open, actually. The s p yesterday at the close was just something that you didnt want to be a part of if you were on the bid. I really think that the earnings that came ou
Starts right now. Liz good afternoon, everybody. Im liz claman. The last hour of trading. The dow and s p are on a roll. Both on track to end higher for the fourth consecutive day. It may be the longest winning streak since back in april, april 30th, and the longest for the s p since may 15th. Two important things that were watching all our long. The nasdaq composite finishing above 3,500, here is where you see it right now, you can tell. If the nasdaq itself moves higher, that is what it will become a 3,500. Its highest close in nearly 13, not months but years. Well, on track for its Third Straight record close hitting a high. What is driving this so quickly . Investors are optimistic about the new earnings season. Alcoa, we saw this yesterday, the first member to report earnings and said a positive tone for the trading day because it beat the bottom line. This morning Wolverine World Wide reporting better than forecast earnings in the outlook shares of the big shoe conglomerate looki
Market turning down here as we wait for the feds minute release. Even if it were to post again today and be higher than yesterday, it is another recordsetting day. We are watching oil which is a key story today. I am watching hewlettpackard very closely. This was a real ladder last year. The analysts are doing 180s as well. Citigroup now put a buy rating on hewlettpackard. This comes on the heels of green yesterday. This is why they are turning around. Adam thank you very much. Breaking news. Crude oil. Phil flynn of Price Futures Group is in the trading pits of this cme. I would call it a stunning drop in supplies. Not only do you have the heating of tensions in the middle east and you have surging demand in the United States. Everybody thought in america that we would not drive our cars anymore. Gasoline demand surging. 4 above a year ago. That is an incredible number. It is showing that demand is gas leak off of the code of louisiana. Had they been able to plug the well . I think in
These levels 110 points on the Dow Jones Industrials and sitting at these levels and gain of 3 4 , to carry nasdaq of 1 , trade data today, basically we are behind more foreign cars and toys and goods, but they are buying fewer u. S. Products because demand has dwindled to a certain extent and were keeping an eye on j. C. Penney, a retailer which garnered more interest from the Big Hedge Fund managers including hedge fund capital management, the 9. 1 stake, j. C. Penney up 6. 4 . Adam l is pulling back as investors wait to see how the United States responds to the situation in syria. Phil flynn from Price Futures Group in the trading pits of the cme, traders are waiting and tomorrows inventories. They sure are. That could be a big report. As we know supplies are well above normal in the United States but not so much in europe. In europe right now they are basically closing refineries because they cant get their hands on that highquality brent crude. What does that mean in the United St
Extraordinarily well, but it is not a reflection of america. Stuart they are not bringing that money back to america. Charles let them bring back 400 million. Then we will get a 300 billion stimulus that no one watching this show has to pay for. Stuart well said. Our time is up. It is now time for Dagen Mcdowell and connell mcshane. Connell good morning. Dagen we bring you the comments on spending with. Connell 11 billion. Executives promising a better experience for flyers. Dagen i say bring it. A terrible story comes home to ports. The Carnival Cruise ship will dock today in mobile, alabama. The route has been delayed until this evening. Connell people cannot catch a break. Top of the hour. Stocks now and every 15 minutes. Nicole petallides at the new york Stock Exchange. It is not monday, but there are a lot of mergers to talk about. Nicole the first is in airline deal. It was highly anticipated that u. S. Airways and American Airlines would merge. First lets hit heinz. I am going t