markets this morning. the german diamondbacks doax do percentage points. we are half an hour into the press conference. mario draghi says the euro irreversible and that government should be ready to activate the esff. we ll have the latest. knight capital shares continue their free-fall this morning, the company saying the erroneous trade positions resulted in a loss and that its capital base has been severely impacted. retailers on the move this morning, costco beating estimates. steve liesman has the latest on the news conference. steve. melissa, thanks very much. there s some interesting contradiction in what i m hearing draghi say. on the one hand he began strongly saying they ll do whatever it takes, the euro is irreversible, and then he starts to lay out a essentially a plan that says in the next few weeks we ll announce a plan effectively to buy bonds. he later says it will be a plan to buy bonds on the shorter end, different from the sfp. a couple questions that are
helped bring the index back into positive territory for 2012. big market today. look at how we re finishing the market. at the highs of the day up nearly 300 points, financials powering forward with a gain of better than 2% at 285 points higher. 12,414. nasdaq is strong. 66 points higher. technology on fire. 2844 on the nasdaq and s&p 500 up 30 points. you have energy, financials, technology all on the upside bringing the s&p to 1315. how quickly things change. we started the week all worried. now a surprise rally across the board that picqued at the close. mandy, brian, and matt. to what would you attribute this big move in stocks today? i think the rumor of qe 3 is propelling the market higher. however, i m a little bit concerned about the only the reason why you re seeing the rally is more government intervention. i think it s going to be a sugar high, maria. enjoy it while it lasts. buy higher quality stocks with dividends. it s not going to be sustainable, in my opin
reimburse the broker/dealers who got caught in the middle. there he was with mark zuckerberg on the day that facebook became public. we ll watch for that very carefully. this set some precedence in some way, doesn t it? it really does. it s the largest ipo that has nasdaq has seen. today we ve got a lot of unhappy investors. he s going to have lots to answer to. all right. on top of all of this, we have a major rally on wall street and in times square where you are, maria. here s something we haven t seen since april, a two-day rally win streak. positive for the year now. back in positive territory, back above the 200-day moving average after the major averages have all been hard hit essentially during the month of may. right now the dow is up 224 points and the best thing you can say about this rally is it s apparently the result of a lack of bad news today. something we ll talk about. we re at 2834 on nasdaq. a gain of 56 points, or 2% close to the highs of the session.
crisis, upset about jpmorgan s loss and facebook s highly anticipated ipo was not liked by many investors, despite being the most heavily traded ipo on record. the stock closing right around $38, the ipo price. we are hearing from one investor who said the key to making the money is to buy it today and sell it on day three. we ll get behind that strategy and find out what he means by that. let s look at how we re settling on wall street. the dow jones industrial average down about 74 points on the session. nasdaq composite finishing down about 35 points and the s&p 500 giving up about ten points today. facebook shareholders may not have a happy face today. my next guest owns the stock, but he won t in a few days. richard lamer is with me now on the telephone, richard, you say you plan to sell all the stock early next week. why? i always do this on the third day with tech stocks. this has been my this has been my tendency since the 90s when basically everything would peak
markets before a great bull run started after that. just pointing that out. financials among the laggers today. jpmorgan chase has been down more than 1%. here s what the markets have done today. lackluster trading in the open this morning, then a move lower around noontime. it was around the time that facebook hit open. the dow saw its biggest declines there. the same thing for the nasdaq, down 27 points right now. 1% decline right now. we re at the lows of the session at 2786 and the s&p is down nine points at 1295. one hour to go before the stock everybody is talking about closes in the first day of trading, of course. we have a bet on this. remember that, bill? yes, we do. we re of course talking about facebook. the stock opened at 11:30 a.m. eastern, got a pop out of the gate. not as strong as some people predicted. it almost slipped to $38 a share, only to bounce back and to hold on the modest gains into the close. it could be the most heavily traded ipo on record