wall street is a big influence across the asia-pacific region. the wall street rally was underpinned by the comments from the u.s. fed chairman, william dudley that an interest rate rise looked less compelling in september. that gave investors a good chance to pile in and buy stocks that had been beaten down. but the actions in china have helped. shanghai up at 2%. there has been a little bit of volatility. but it looks like yesterday in shanghai. the markets are swinging around a bit but nothing like this week. shanghai was down 20% over the past five days. the calm is returning, rosemary but no one at this stage can say with any degree of certainty how long it will last. that s what i wanted to ask you whether it signals an end to china s market woes for a little bit perhaps. but what about the current
this christmas week was another big week for stocks and your 401(k) with the dow rising 23 points on friday to once again over the 18,000 mark. s&p 500 had also posting a record high. the markets were fueled by rosy headlines and strong economic growth and plunging gas prices, all really good things. how long can we expect the wall street rally to last? let s ask dominic, president of diversified financial consultants. it s interesting when you hear about things that sound so good but yet a lot of polls come out and majority of americans say they rate the economy as poor. where is the disconnect? the disconnect is that not all people are certainly all americans are participating in the recovery the same way. there s 48 million below the
by the senate to be the first woman to run the fed in its 100-year history. but for a lot of people who follow money, that s not the headline. the headline is, she s going it take over ben bernanke s place when his term expires this month, and that job unwinding the fed stimulus will be very, very important, a very big deal for your money, and it s a very big week for your money. we ll get a look at how much money companies are making. they issue their sort of quarterly reports cards this week. you ll hear from alcoa, bed bath & beyond, family dollar, a whole bunch of them. we ll be looking at the earnings quality. if the earnings quality is good, maybe that will fuel the wall street rally into 2014. on my show this weekend, cnn s your money, there was a clear difference of opinion between the bulls and the bears on the health of this rally. listen. the best asset class out there right now is stocks, and there s so many individual investors that missed out on this big rally that ar
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is doing something that we support and is a big deal, yeah, that s cause for cheer and i think it s reflected in the stock market. brenda: okay. particularly this week. brenda: toby, spending cuts kind of, wall street rally, go together? you know, it s part of it. let s look at the bigger picture here, the same time we have the sequester happen we have the representatives pass a six month exexpended spending bill and essentially wipe out many or small parts of that spending. at the same time, you haven t with the pieces everybody is excited about spending cuts and six months of outrageous spending. we obviously have another issue here, economically this was an over hang and at some point, i don t believe that people thought it was going to happen, that we were going to go into this lockup. and by not going into the lockup, that did get the marginal buyer off their can and buy some stocks. the stocks melted up, it wasn t moved up, melted up.