Without raising taxes on the rich. Melissa the nations largest seaport complex at a near standstill for the eighth straight day. Drake christopher is going to join us with how this could impact your holiday season. Lori i was just kidding, actually. Bacon is kosher. I do not eat kosher. Melissa speaking of kosher lori rubbing elbows with the royals. Our next ambassador you are speechless. Melissa i do not know about that one. Time for stocks now as we do every 15 minutes. Nicole petallides is standing by. Nicole right now, we are seeing the Dow Jones Industrial average down just 12 points. So far, we are having a losing week on wall street. Lets see what happens at the end of the day. These moves are really fractional. The s p down a third of a percent. December, traditionally, is the best month for the s p 500 since 1950. We will see whether or not that seems to come to correlation. I want to take a look at some of the auto retailers. It turns out they are not doing so well with their
Nicole this is one of those markets with a lot of anticipation. Every focuses on the fiscal cliff. Tomorrow is the allimportant jobs report for a lot of folks have been hearing more Economic News which has been more dismal lately. Talk about more layoffs they have seen in november. Right now the market is not too far off the unchanged line. The acidity holding 1400. The tech of the nasdaq still below 3000. Today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. Apple 700, 705 in september traded as low as 518 today. Certainly has been under significant pressure, however people use that as a buying opportunity which is evidenced in the twoday chart. With the fiscal cliff fast approaching, naturally its about time lawmakers took a long recess. Theyre gone today, but will be back tuesday. It meets with Small Businesses in their district, they will highlight what they say i see ae Small Business tax hike president obama is pus
Losing streak, but we have some breaking news on sac capital. This, of course, is the eye wantic hedge fund that has been embattled by both the sec and federal prosecutors. Dow jones is reporting there may be a settlement for Insider Trading charges. All kinds of charges have swirled around this country along with accusations of failing to supervise. Were going to have more in just a minute from Charlie Gasparino whos working on this story, but it appears there could more than a 1 billion settlement to settle all of these charges that have beleaguered sac capital. Lets get back to the markets, Home Builders leading the s p 500 higher for a couple of reasons. Lennar, kb home all up after lennar and kb posted better than expected quarterly earnings, and separately this is sort of the big data story here, and you just heard ashley and tracy talking about this, the chase shiller in caseshiller index did look to show that once again we have home prices that are continuing to rise. For the m
Back to the floor of the Stock Exchange with Nicole Petallides. Stocks posting modest gains with a long way to go to make up losses. Nicole the late losses friday we got 200 points to virtually flat. Yesterday we drop 243 points so clearly we have to make enough on wall street. If you are able out there with some up arrows earnings were better today than we have seen over the last three trading days and that was something that contributed to the selling. Dow jones industrials up 30 points. The gain is 1 4 . And again like the s p 500. Three 2 dow components, first in boeing, First Quarter profit, the profit is something to watch, down at 6 and hurt by higher pension costs. They did raise their full year diet and that was good news but they miss the analyst estimates. It is now 3 4 . Third quarter revenue missing the estimate there. The other thing at t to note, this name is coming. Lori oil extending loss of trading down for fifth straight day. Phil flynn with the future of the cme, th
Substantial. The nasdaq composite is up half of 1 . The swing is not even 100 points. We started off in the red and now we are in the green. We got in home prices that rose the fastest in seven years. This group is doing really well. Kb homes up 7. 7 . We saw double digit Revenue Growth for kb homes. Back to you. Lori thank you, nicole. Gaining 12. 4 from a year ago. There are some concerns about the home price gains peaking. Adam news alert for you, Eric Schneiderman seeking the help of washington, d. C. To help prevent highfrequency traders from getting information earlier than the rest. They paid thompson and reuters for that information. Speaking at the bloomberg market, the attorney general had this to say. We are seeing something far more insidious than insider trading. Small coop of powerful groups inside the market are able to use soon to be Public Information combined with highfrequency trading. Adam he says regulators face several challenges tracking and preventing these. He