Well hitting all of these records think about it, stocks have indeed come very far very fast were right on the cusp of multiple rate hikes. There was a terrorist attack in times square weve got a special prosecutor investigating the white house and last week we almost had a Government Shutdown that was only temporarily averted, yet stocks, theyre in great shape the dow gaining 57 points, smpt advancing 0. 32 . Led by, you guessed it, apple. Look, these are not easy questions, frankly, at this point. When i talk to people, far more of them want to get out of this market rather than get it. It always pains me, but thats what they want to for. Many of them genuinely believe we are being led right off a cliff. Like obvious little i think they may be mistaken, though, im going to give you a sense why. We can start with a bigger picture. Thats the socalled macro first of all, the whole world is on fire here and all of these u. S. Specific worries pail in comparison to the synchronized Global
The opening 20 minutes or so from now we are positioned for a higher stock market at that 9 30 mark europe has been open for some time and over there it is also been largely a positive day so far. You can see germanys dax of course and france the best performer. The 10year note yield so much of a focus yesterday as it same close to the 2. 9 not sure we ever got there were above it now thousand. Yesterday we flowed 2. 89, 2. 915 and stocks dont see particularly concerned wti is down though, higher than it was this time yesterday this morning stocks are looking to extend their daily winning streak, five all three indexes gained more than 1 yesterday shrugging off the stronger than expected cpi after what was a sharp decline early in the session and inflation data out this morning shows Producer Prices rose. 4 in january. That was matching forecast now the core rate minus food and understand also up 4 . That was twice what many economists had been expecting. What a difference a day makes.
Rallies weve tried to mount lately. Dow only 220 points s p pole vaulting 2 or 3 . Nasdaq rocketing 1. 53 . And roll over at the bell. But now the hard part begins. We know the Chinese Government has put through a whole bunch of measures to stabilize the market. We seem to be well, i never want to say we are at the curtain closing part of the greek tragedy with the lesser of two evils at least for the stock market might prevail. Still one more bailout that could be destined to bailout a year or two from now. Doesnt matter. In the shortterm a resolution any resolution is positive especially when it comes to the dollar which is selling off for once against rejuvenated euro. No doubt because an end to the uncertainty could send europes single currency soaring. The dollar really matters. Something thats going to become obvious as we go through the next weeks game plan. Mondays going to be dominated by foreign affairs, greece and china. In greece we need to hear what the left wing governmen
Minutes. Got to talk to peltz, jim, about Procter Gamble yeah. Big tory. David and i have been spending time on it. Mr. Peltz had came on here and then mr. Taylor, the ceo of procter came on mad money with a series of what i say are just outright charges that vehemently disagree in what was once i thought going to be a more gentlemanly discussion with what mr. Peltz is saying and what mr. Peltz has done. Would you agree with that . Yeah. I dont think its interesting. The battle has been joined here. Both sides had hoped to keep it civil. Its not clear to me thats case civil like a civil war. Thats fine with us why do we come back to it . P g is one of the most Important Companies in the country this is the first time weve seen a proxy fight even for one board seat in a company this large. Did depends on who you talk to if its a company that needs fixing, and not something capable of the Current Management Team regardless because of all the different layers, the bureaucracy, the units w
Around with joe terranova, steve weiss, josh brown, jon najarian around and er and erin brown. First, new at noon today. Another famed money manager weighing in on the side of the stocks today. Apple loses david teper telling me exclusion ily today hes long stocks, short bonds. Tepp posing the question to me like this. Could be theres too loose monetary policies still around the globe. It suggests its affecting the bond market more than stocks. Weiss, ill let you weigh in on that first. Lets take the tepper commentary first and meld that with what buffett is saying as well. Theyre both saying the same thing basically. Buffett is saying im not getting paid for my risk in bonds and youve got to be crazy. He kept saying it over and over again today. Im not getting paid to own bonds. Theres no return there. Get paid 3 or 2 to put it long term . Lock it up long term in a 30 year for 3 makes no sense. Thats depleting asset in terms of cash. What dave is saying and dave has been saying it for