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
How big when it comes. The dow sold off nearly a quarter of its value, wiped out in a single day. That would be the equivalent of the do umbling more than000 points today. Still back in 1987 every major blip and bump sie we always heard the same stock songnd dance, didnt we. Cant happen aga. Wont happen again. Too many protections now. The Circuit Breakers at were supposed to arrest panic but did not. The curbs that were meant to ease us into a freefall and ease us out of a freefall that could not. Try aswe might new gremlins keep testing our might. That is one thing we learn from market history, the smartest programs, the fancy evident algorithms and uncanny leverage or daring derivative or i dont know, savvy swap cant prevent slop. Beware those whoay history cant repeat itself. History proves it always, always does. To former bb T John Allison who was president of that bank 25 years ago today on th very real warning signs it c can hppen again today. John, a pleasuretoave you. You don
The markets this monday morning shrunk. It is dismissed as october surprise one of the. The final debate is tonight. If romney keeps the momentum he is the next president. We have not forgotten the markets. A very small bounce for stocks, gold and oil just ahead. Varney and company is about to begin. Stuart caterpillar is one of the stocks used as an Economic Indicator. Makes construction equipment, sometimes reflects the state of the world economy. Caterpillars profits are up 50 strong sales and the u. S. The rest of the world weaker than expected, and changed the opening bell. Turn to the election. Two weeks from tomorrow look at the latest polls. They are tied at 47. Dead heat that this poll had president obama leading by 5, the go. His trend is towards romney. Look at this for momentum. The gallup poll has romney pulling to a seven point lead. The latest daily tracking poll, and adams sunday. Best case of the president is a tie. And the latest number, scott will be joined us with t
Expenses, fixed costs down 1. 3 . They are not willing to buy buildings, take on higher represent, not buying computers or equment because they dont believe the demand is coming. They are not making any bigger investment. Thats what we need to lift the economy is that investme, and the fact its declining . Wow, thats really a bad sign. Neil scott, a Better Future indicator . What so many ceos are saying im preparing for the worst just in case. Suspect that a more telling future . Yeah, look at Consumer Spending numbers. The positive note is it increased, but guess what . Its down from the First Quarter and down from last year so youre right, the businesses look at the dollars from the wallets saying, hey, they are not flying out of there. If you look the the investment numbers, convicting to gdp last year and the year prior, which, by the way, gdp, 1. 7 , below the trend this year, 3 in 2010. The economyss deaccelerating. Neil adam, do you think of that . Well, things cod be better. Fa
Nations economy and doubling fiscal cliff. The headlineein today Financial Times read you as Third Quarter results raise fresh economic fears. Shares of ompaniesarnf a global demand. The Dow Jones Industrial average plummeting 2 over the past week, the worst drop since june. Commodities taking a hit. Goldalling elow 1,700 an ounce. The price of oil has dropped almost 7 percentsince last week. Of course, the fed. Today saidit will leave Interest Ratesnchanged and will continue qe3, pumping money or air, wherever you want to college, into the economy. Joining us on what he makes all this harvard economist jeff myers. Thank you for beg here they did basically change nothing in the fed report today it except for two things. Change in language in the inflation. They said that the inflation has cked up because of Energy Prices and the one that the Global Markets pose some downside risk. What do you make of all that . I think on the ination they also tried to emphasizethat core inflati has no