And green for mostly the russell 2000 and ousting of speaker Kevin Mccarthy in the rear view, the bulls are holding on to the green by a gossamer thread and spiking bond yields barely retreated and point gain for the dow of nine measly points. Earlier gains of a gain of about 130 points and weve not come close to erasing tuesdays 430 point loss. Buyers of blue chips emerged earlier but since lost a bit of steam here. What is working kicking off the final hour of trade. To the dow heat map, theres amgen, microsoft, walmart, sales force, visa and nike in the lead. La guards are chevron laggards are chevron, walgreens, boots, 3m and not one sector getting slammed or jumping. S p up 18 points but yesterday it lost 58 points and nasdaq recovering, lets call it about 133 points of the 248 point route just 24 hours ago. Tech stocks tend to dot worst when bond yields sore those yields spiked on stronger than expected august jobs or jolt jobs opening and labor reports and thats got investors be
On the bloomberg. The reason you do not see a dot beyond on the righthand side, he is saying that is outside of a poor castable four castable forecastable period. This is fascinating. When the summary of Economic Projections came out and we look at that straight up right at the bottom, the answer is there now. Jim bullard. David when you read the statement hes just issued, hes saying a lot of things people the fed is about projecting out into the future well beyond what it can no. Know. S what it can some people think their models are run. Alix how do you forecast a fed that is data dependent . After the dots were released, there was chatter in the market with alie evans statement of a shift in how you view the economy and where you actually think rates should be. Of the f1 all members see are in agreement about the approach to this question. Agreement. In the question is whether other people come to jim bullards side. David we will have a bloomberg exclusive with microsoft cofounder b
Easy money will help the market any day. Are we too complacent on buying . Ill tell you, the way the fed is running the money this has a long way to run. This is the fed. The news out of europe, the stronger dollar, but at the end of the day without the cheap money from the fed this market goes flat. Its not about the sequester that could kick in a week from today, not about the elections in italy or the currency wars going on right now, its about the fed . At the end of the day, yes. Youll see little bumps in the road like the last two days but they will disappear like they did today. Up 115 points. Have a good weekend. You too. The market is going higher and higher, the dow up 115. Looks like it will go out positive and every friday this year. Thats it for the first hour. Stick around for the second hour closing bell with Maria Bartiromo. And it is 4 00 on wall street. Do you know where your money is . Welcome back to the closing bell. Im Maria Bartiromo on the floor of the new york
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