Driving potential investors to the stock line as the american stock market but not the American Economy suffers daily from hedge funds starting rel t relentle relentlessly in and out of our stock. The dow sank 42 points and s p gave up and dow declined its one more day we have to suffer from the volatility these funds leave in their wake. They obscure the good news happening in this country. Our horribly weak stock market this morning was like a different market for the rest of the day. It reflects their Collateral Damage an not our fundamentals which is why i came bouncing back later in the day. The market regained its equilibrium. Consider the positives for a moment. Positives hidden by bizarre moves like the hideous opening this morning. Before the opening i was incredibly heartened to learn Consumer Spending in this country rose. 5 , income increased. 3 . They show a confident consumer emerging. Its something that should have driven our stock market up and not down. Its clearer the
This is. Is continue arab springlike movement under way . How hard will china crack down . The white house also weighing in. We are on the ground live in hong kong with the latest on this tense and developing story. Most stocks are down recently. Not this one. Look at that. From 626, up. Gopro shares on fire. All time high today 260 since i mentioned it went public back this june. The Company Unveiling its latest camera. We will have some of them here. Will it help fuel sales higher. Gopro in join us live. Its a volatile day. Stocks off their lows not by all that much, though. We started the day with a triple digit loss. Clawing our way back. We moved up to about negative 42 and now down 80 again. So volatility definitely intact today. Down 80 1 2 on the dow jones. Nasdaq up almost 12. S p 500 off 7. 75. So an interesting way to start the week. Bob pisani joins me now. We had a lot of weakness in some emerging markets. You heard about the demonstrations in hong kong. But look at the s
Our elected leaders jo to be immune of the inside the beltway wars . And how much of a weakness weve seen, including today . Its breakdown day. Dropped. Nasdaq, replaced at the feet of the bears in the white house in the gavel. First, lets establish whats happening. We know the fed lowered the boom on the short sellers telling them to be careful because bernanke is still a lover of bonds. If you were selling bonds. Short. Expect them to go lower. Many work. You have the mean whama jama upside the head. A technical term. Theres one problem. This market thinks see xentially and obsesses about the next big, bad event right after the one has been solved. So we obsessed about the fed. It occurred. Like it never happened. Even though it was a positive. Why . Because weve been obsessed about the next series. The budget wrangling. Obsessed about the debt ceiling, Affordable Care act. Whats secrets they come up for us down there in the capitol. I remember when asked if i were bullish going into
Is it possible to ensure yourself against the insanity of our elected leaders jo to be immune of the inside the beltway wars . And how much of a weakness weve seen, including today . Its breakdown day. Dropped. Nasdaq, replaced at the feet of the bears in the white house in the gavel. First, lets establish whats happening. We know the fed lowered the boom on the short sellers telling them to be careful because bernanke is still a lover of bonds. If you were selling bonds. Short. Expect them to go lower. Many work. You have the mean whama jama upside the head. A technical term. Theres one problem. This market thinks see xentially and obsesses about the next big, bad event right after the one has been solved. So we obsessed about the fed. It occurred. Like it never happened. Even though it was a positive. Why . Because weve been obsessed about the next series. The budget wrangling. Obsessed about the debt ceiling, Affordable Care act. Whats secrets they come up for us down there in the c
Work today after last nights win. The road map goes like this, earnings beat for citi top and bottom line. Stocks up sharply as the Bank Announces its settlement with the government, 7 billion for, quote, egregious mismanagement. Far from the only deal news, well have more on mylan, for example, in a moment. Markets in the green on this monday. Goldman raising forecast for the s p, as we gear up for that busy week of Economic Data. Apple, barclays back on board ahead of iphone launch. Sees a weaker samsung and a stronger tim cook. First up, citi group, reporting Second Quarter operating profit, 1. 24. Revenues above consensus. Citi taking the charge of 3. 8 billion in q2 in connection with the companys 7 billion settlement with the doj regarding Mortgage Securities sold ahead of the 2008 financial crisis. Trading revenue down 15. Not as bad, jim, david, as some expected. No. This was in contrast to wells fargo, expectations were so high going into the quarter, there really was a lot of