decision and economists not forecasting a change. mike mckee our chief economic correspondent will be focused on the 8:30 a.m. press conference with mario draghi where there is a lot to talk about. including the possibility of a fed tabor here and what it could mean for rates rising in europe as well. a lot of economic data in the u.s.. 7:30 a.m., challenger job lot job cuts, then initial jobless claims of gdp and then bloomberg and bloomberg consumer convert and then factory orders and then 8:30 a.m. eastern treasury secretary jack lew will outline his 2014 regulatory agenda and discuss wall street reform efforts in the buzz word will be the volcker rule. 950 pages. let s do a 950-page data check. stocks, bonds, currencies, flat- footed. treasury yield elevated. 2.83%. of two $97.57 a barrel. yields,ds, the the the two-year has not moved. gold gets a bit finally today. alix steel, why did gold get a bid? and perhapsering some hedge fund buying coming in and buying
the french bank with the ecb. he came out and said europe is not in japan. just a start if he could be. issue with the euro trading at 138, the goods are not cheap enough to the rest of the world. a backstory. what else do we have? a lot of data today. retail sales. business inventory comes out at 10:00. earnings, citigroup. talking a lot about financials. prize winners will be announced at columbia university at 3:00. i am in need of a good book. booke most talked about for the imf capital in the 21st century. a both book. every year there is one. check. data stocks, bonds, currencies and commodities. we continue friday sluggishness. futures negative for. flight to quality. euro weekends as does the russian ruble. nymex crude still elevated. the second board is fx oriented. the vix over 17. yet in but still 101.70. the ruble near 36 a big deal. here it is back 20 years. they tried to be stable. weaker, weaker. move matters.e we are really up there. what does it mean to w
france, a mixed picture factoryhe world, tmi activity contracted. as 7:00, we get the weekly mortgage applications. at 9:45, the market u.s. .anufacturing pmi basically, either expanding or contracting. the 10:00, new home sales. that is the big one i will be watching. we will get png, six flags, boeing and delta before the bell. facebook and apple after the bell. president obama begins his tour releases itshe nfl 2014 schedule tonight at 8:00. we wait with bated breath. we just wanted to mention, the president has arrived in tokyo. he will be meeting up with the president of japan, prime minister of japan at seven: 15 for an arrival ceremony at the imperial palace and then have dinner with abe. look at the shameless plug for ana. walk up the latter thing. mr. president.y i don t think that is the president. this is in downtown tokyo, essentially. not necessarily downtown. it is about 2.5 hours away. it is the worst right. bumper-to-bumper, three hours. there is t
meredith whitney coming up on the closing bell. the dow jones industrial average right now flat on the session. a lot of movement but not much change from where we began, actually. nasdaq composite looks like this. once again seeing selling there as you see the nasdaq down just a fraction. really steady today. the s&p 500, similar chart pattern with a flat showing there as well. no surprise from the latest announcement from the federal reserve. leaving interest rates unchanged saying the economy is limping along but going in the right direction. the fed pretty much took a breather after last month s big policy moves. as anticipated. but will the fed make any bold moves after the election? they have a meeting coming up in december. we have our team of experts with their reaction looking ahead as well. joining us from the buttonwood gathering here in new york. gentlemen, good to see you all. greg, i guess no surprise, but how much of this is, you know, leaving things almost
tim leach is with me. he says this was a much needed pause. he joins us along with bob from cabbot money management along with rick santelli. tim, you believe there s an upside? i do. this has been the clearing correction we ve been looking for in the marketplace. granted, we re going to be in kind of dead water here until after the election after the election, we re going to get clarity regardless of which way the election goes. we re looking for a positive bias to the end of the year. what sectors lead us in that positive bias? where do you want to be exposed? we re still believers in technology. we know it s been soft here lately. there s going to be a tremendous amount of demand. as we know, revenues are really hard to grow in this kind of marketplace. so companies are going to have to continue to squeeze efficiency out of their operations. that means technology. we re also believers in finance and financial companies. okay. rob, where are you on this question? ho
points at 13,113 and nasdaq at 2 plus point, 2988. the s&p struggling, down a tiny fraction now at 1412. it could have been worse if not for the better than expected gdp. investors still worried about the corporate outlook and apple s disappointing results last night. the looming fiscal cliff and election and on and on. here to help us in the closing bell exchange, stephanie link and steve leesman and peter sh ii shiff will join us as well. 2 3rs% is not enough to sustain, putting the unemployed back to work and taking idle factories and putting them back to work. the consumer seems to be hanging in there. the negatives seem to be a big part of it was defense spending, 0.7 of the 2% was defense spending, although that was a pay back for 3/4 of declines we ve had. this needs to turn around to have a good recovery and have this economy firing on all cylinders, that s not been the case and business seems to be holding back. stephanie, you re blaming the uncertainty over
and it is 4:00 on wall street. do you know where your money is? hi, everybody. welcome back to the closing bell. i m maria bartiromo. market closes lower after the s&p 500 closes at a five-year high on friday. bit of a downer today. take a look at how we re finishing on wall street. dow down about 51 points. absence of buyers not necessarily selling going on today. s&p 500 gave up about 4 points. also off the worst levels of the afternoon. and the nasdaq composite down about three points. really flat on the day for the s&p and the nasdaq. the bulls took a back seat today with the s&p retreating from the five-year high. so was it a slip blip in the rally? we bring in now jeff acorzanik, ron asana. good to see you. peter, let me kick this off with you. what did you see today in terms of flow? in flow? yeah. where d the money move? the money moved trying to find little spots and little dips. but there wasn t much money going into the market or out of the market. it was a
cabin looks like after the kind of crash that that airplane endured on saturday. we get new information also about the cockpit true, its training and level of experience. nbc s tom costella on how to get out of an airplane after the crash, like the one that occurred saturday and hopes that the revolution in egypt would be relatively peaceful dashed, dozens dead after brutal clashes early this morning. this our roughly between 1:00 and 2:00 p.m. eastern time has been a troublesome one in egypt over the last week, and we re going to go live to cairo to plan out exactly what s going on in that beleaguered city and country. first though to sue at the nyse. ty, watching that situation in egypt very carefully. the dow, as you said, is on the way up again and we re now trading up 66 point on the do you at 15,202.83. keep in mind, the all-time high, 15,409. hit that back on may 28th. the s&p 500 has traded up 6.03 points. the nasdaq composite down on the trading session by just a f
financial storm and one that comes around perhaps one every 50 or 100 years. this is the real thing. and much of what went wrong on wall street could be traced back to something called credit default swaps. they were traded in a risky shadow market, and they were at the heart of the financial meltdown. [ticking] it has tentacles as wide as anything i ve seen. i think, next to housing, this is the single most important issue in the united states and certainly the largest threat to the u.s. economy. meredith whitney was talking back in 2010 about a then- looming financial crisis involving state and local governments across the country. it was a debt crisis which some people believe could derail the recovery and require another big bailout package that no one in washington wants to talk about. the day of reckoning has arrived. that s it. and it s gonna arrive everywhere. time may vary a little bit depending upon which state you re in, but it s coming. [ticking] welco
spending. then consumer sentiment. we will hear from bill dudley along with eric rosengren. est, esther george told an audience the size of the michelle taper may not matter all that much. she argues that the key thing is the clarity with which the fed communicates about where its policies are heading. maybe not surprising, 10 billion, 15 billion, as long as they get it started, that s what the market will be watching. say something yesterday, becky, that someone predicted it will be next year and it will be the next chairperson in the fed that starts the tapering. did you see that? there s only two meetings left. it was october and december, you re right. is bernanke going to on be in a position where he did it someone said it yesterday, itself his prediction is that nothing happens until there s a new fed person. because they tied it to economic conditions, i think it would be difficult to say that economic conditions have changed all that drastically in a month o