while the s&p 500 fluctuated somewhere in between, ultimately declining 0.35%. remember when i said the bulls would love a market that didn t need to rob peter to pay paul? meaning if there was enough new money coming in from the sidelines, investors wouldn t need to brutally sell stocks in one sector in order to buy them in another. well, we clearly haven t gotten there yet. this market feels pretty zero sum right now. today there was highway robbery of the techs and the health shares of industrials and banks and oils. it wasn t exactly what we let s just say it s exactly what we don t want to see. we basically ran out of new money to fund a healthy, broad-based advance and instead went narrow into a couple of so-so leadership groups, which is not a positive longer-term scenario. you don t want fuel stolen from the techs. you don t want fuel stolen from the health cares, the equivalent names that aren t so equivalent when interest rates spike as hard and as fast as they ha
moving the markets. record low bond yields, new attacks on viacom, and at merck shares are rising in the premarket. but obviously a lot of review to go over on what the fed said yesterday, jim. yesterday was a kind of admission, it wasn t even tacit, that maybe we re in a kind of different era, which is so interesting because a couple months ago they certainly didn t think we were. and that s going to cause the i d say kind of a grumpy attitude toward the fed, people who say they ve lost it because they now feel look they re swinging in the breeze, the pundits. wow. all of a sudden we re much weaker than we thought, previously much stronger than we thought and we re data dependent. it does add up to something that i want to step away from and say it s good for stocks. so we can talk fed policy, as if we are indeed fed members. i ll let you be from i don t know, some west coast man and i ll be a philly thing. when it clears, we can go back to clorox and back to look at p
versus anxiety about the further collapse in the price of oil. in the end, a possibly placid outcome to the tortured uk story, triumphed over oil, and the dow climbed 93 points. nasdaq advanced .21%. this tug-of-war between britain and oil is of such titanic importance that nothing else comes close to even mattering. with all those a run big pools of capital and big news on brexit in that it might not happen. in the end, instead of experiencing pain, we had an anti-brexit gain. one of the more tedious aspects of my job is that i have to look for minute difference that s could have a big impact. right now there is fear about britain getting out of the uk against liquidity. that s code for prop things up. in any way possible if things go wrong. the collapse of leeman brothers and all sorts of other institutions during the financial crisis is recent enough that bankers remember the firmest of institutions can have feet of clay. i feel emboldened. a bad thing that comes out of no
on american history tv, sunday morning, we ll simulcast c-span s washington journal with guest and author of reagan s revolution. then at 10:00 on road to the white house rewind, the 1976 republican national convention and a close race between gerald ford and ronald reagan for the nomination. see ford s acceptance speech and remarks by ronald reagan. i believe the republican party has a platform that is a banner of old unmistakable colors with no pale pastel shades. her skirt is above her ankles, which is the changing face of fashion. her hands are on her hips and they slows her hat into the ring of politics. from 1914 until 1927, she contributed over 115 cartoons in support of the women s surraj campaign. he developed this notion at the beginning of the century. there were 9 million african americans or 90%, of this 9 million less than 20,000 had a college degree. georgetown university professor maurice jackson on author and w.e.b. dubois, and his relationship with
panel. pete najarian to you first. down over the past year. worst performer of large banks. kbw indention down ten. what s the problem? everybody puts banks in the same pocket right now together, and i think when you look at morgan stanley, goldman sachs, they re separate and particularly morgan stanley. focus and emphasis put on wealth management and that s what i think value act is lookingality now, where the focus should be. give you a small example. how many quarters in a row did we hear when dick s sporting goods reported everything was actually pretty good, golf galaxy awful and everybody started selling that stock. look at morgan stanley. the focus, wealth management. where they re moving themselves into that field more and more and more, getting more exposure and because of that, people need to focus on, is that the right thing? i think it is. i think that bodes favorably for morgan stanley. joe, the point of making. focus on the low captain intensive businesses l