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No, that actually was good for the market t. Dow gained 126 points t. S p climbed 4. 6 . Nasdaq advanced 0. 4 . How did these terrible things suddenly become good for stocks . This market is trying to find a footing where it doesnt go down every day and segments hard hit can be ready to rally. Its finding its footing in all the wrong or ignorant places. The fed kept Interest Rates low. Banks need higher rates to make more money after your depositles. The stocks got dumped. It doesnt matter at all to people that the banks were actually quite doing quite well here in the u. S. That its got more robust lending than anywhere else on earth. We learned last week when john stumped the ceo, wells fargo came on the show. He made it clear it was excellent t. Stock got hammered. Big money matches, what do they want . Lending is a risky business. Even if you are wells fargo, which is an amazing sir couple spent lender. Nope. The stockmarket p ....
A policy that on average would hold the inflation rate below 2 . That is not our policy. We want to see the inflation rate get back to 2 as rapidly as we can. But there are lags in the impact of Monetary Policy on the economy and if we waited until inflation was back to 2 and that would probably mean that unemployment had declined well below our estimates of the natural rate and only then did we start to begin to you know, the word tighten Monetary Policy i dont think is really right because we have an immensely accommodate testify Monetary Policy in place. So let me say just to begin to diminish the extraordinary degree of accommodation for Monetary Policy we would be overshoot we would likely overshoot substantially our 2 objective and we might be faced with t ....
Win streak. Data coming out as well. Ibm kicking off its investor day. Ceo ginny rometty. An exclusive interview. Net neutrality, the fcc taking up what has become a contentious issue. But waiting on important details for Internet Companies like google and netflix still to be determined. First up wall street digesting Economic Data ahead of the opening bell. Consumer prices down. 7. Strip out food and Energy Prices up. 2. Durables nice, above expectations, above 2. 8. Weekly jobless claims jumped to 313,000. Dow closed at record high. Nasdaq ended the tensession winning streak. Within a stones throw of 5,000. A level at which its closed only two times in history. Take it out today because theres a lot of good chatter in individual tech names. I would tell you we had a gauntlet this morning with the runthrough. When you ....