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happy to sign your books. [applause] [inaudible conversations] i have a leg to welcome you here tonight to the enthusiasm for issues of our importance to our country that we find of interest we re glad to hear hitler dash have you here sweltered over to the moderator. my name is jim and i teach at northwestern university school of journalism and i will do the moderating. and the co-director for the national security journalism initiative. and the chief operating officer of the new zealand institute. founder of redbridge security and is a former senior official in part of home and security. and harvey is part of the american bar association national task force. so whistle-blowers leaks and the media. with american bar association in collaboration the first is the national security law of a guide for journalists and scholars the three of us were coeditors were written by lawyers that are experts in their field of national security. and over the last six years. and to ....
stocks pulling back a bit from the all time highs one day after the federal reserve surprised the markets by holding the stimulus steady. bob pisani? some were disappointed. after people started sorting it out, stocks slid all throughout the day as interest rates rose. that is far and away the most important story. we did see cyclicals gain a little bit, but not much. interest rate sensitive sectors were weak today as rates moved up. banks were weak, too. the volume today, i m going to call it above average. it s not heavy. but it s above avrmg. the favorite quote i saw today, maria, if the economy was strong the fed would have tapered. a lot of people reflected on that. see the stock market action. look at industrials. there was a small group of industrials that did well today. global industrials did well. take a look at material stocks. another economically sensitive group. for the most part they were down on the day including billiton and rio tinto. flatter yield c ....
also at all time levels. nasdaq composite at 13-year high, at 3,578. dow saving fire works for july. bob pisani, which led to today s record? a lot of people said, gee, mr. bernanke didn t say anything different after the close. maria, a lot of people think he must have said something different. i will try to give you the simple version. the highly accommodated comment that bernanke made essentially took the edge off of the tapered talk and fear off of the taper talk. tapering can still occur. everybody realizes that fed remains highly accommodative near a 0% interest rate policy. and i think that s the way it understand it. look at companies and sectors that have had the stuffing knocked out of them recently, all rallying today. interest rates sense tifs, these are a mess for the whole month there with big movers. take a look at dow intraday. this is a straight line and move again. highs of the day just prior to 3:00 eastern time. a lot of that is because tech stocks ....
years. it rose from 57 all the way from 51 in june. we ve been talking about goldman sachs. they themselves are reporting second-quarter earnings. topped analyst estimates. net income doubled at the firm held by gains in fixed income and securities and commodities trading ceo lloyd blankfein saying improving economic conditions in the u.s. drove clint activity. liz: general motors says sales grew nearly 4% in the first half of 2013 to 4.5 million cars and light trucks. gains in north america, particularly along with china, helped offset softness in europe and south america. david: coca-cola weighing on the dow today after second quarter sales came in weaker than expected. global economic weakness and cool weather crimped sales of soft drinks. liz: shares of shfl entertainment soaring today. look at this, up 21%, after rifle bally technologies announced it will acquire the casone games maker for roughly $1.3 billion. this will expand bally s presence in key internation ....
.75%. and the stand & poors down 10 points. red arrows on wall street. red sectors in the lead on the downside. bob, what was it all about? the important thing is, a little bit of fed speak and a little bit of economic news that didn t add up for anything positive overall thank you, william. getting ice cream from william here. let s look at the key point here. a couple of fed speakers will lockhart said the fed could begin tapering anytime this year. mr. evans in chicago would not rule out a september tapering. that was interesting, because he s a big it may have weighed on the market. it came out in the middle of the day. overall, more technical in nature what was happening, maria. the market leaders looked tired. biotech and the homebuilders and the transports. there s been a high level of complacency with the vix very low. and the u.s. outperforming the world for months and months, and that will continue, because the economic numbers are still pretty good ov ....