Think that ill look at just like our call centers. The difference this time being it happened to those who are participating very seamlessly. Those who arent already in the market i would tend to agree with you that maybe it gives them a reason for pause. But i think that those who are already in the market see it as the benefit of technology and a seamless experience. I totally agree. I can just see the headlines in the conventional press. But make it very clear. This is not a flash crash of 2010. By no stretch of the imagination is that what this is, at all coming up on 1 00 eastern time. The halt continues here at the nyse. Has been in place since 11 32 a. M. This morning. Getting close to some other events as well as we get into the afternoon. Fed minutes are about an hour away. Art cashin says the question the longer this lasts, at what point do the mutual funds have to price their Net Asset Value at the end of the day. Cashin says the percentage of orders in limbo is growing. We
Tries to recover from yesterday. The premarket is up. Alcoa and pepsi on the tape. They continue to lean on short siders. The tenyear is up and crude is up and oil is back. The imf trimming the global and u. S. Forecast seeing World Economic growth of 3. 3 for the year. U. S. Growth seen as 2. 5 compared to a prior 3. 1 . Not a surprise echoing what the oed and others have done. You have Christine Lagarde telling our fed, guys think twice before you raise. You is want to remember they are a tough organization. There is a lot of feeling the imf must be a bunch of softies. They are very tough. They are very concerned. Merkel is the naernperson that can shut down greece more than Christine Lagarde. It confirms what people felt was behind the two days ago rally, the fed wont be tightening. When you dont talk about them you start getting a little emboldened. Not to say you like the setup. This market is not suitable for a lot of individual investors. I do think when you criminalize short se
Opened up 250 points. Its not that i want stocks to go lower. You know that. I just hate it when people buy stocks up huge and then get picked off by a gigantic move that should never have occurred. As the average gave up almost all of their gains, closing up 33 points. The s p climbing 3. 2 . Nasdaq advancing just 0. 62 . The severe retreat made much more sense to me than the up opening because it was based on nothing that has happened here. And therefore zero staying power during the day. I get upset when i see that were taking our cue from the chinese stock market. And when they rally, we open higher . Well, the sellers come in knowing they have been given a gift, the gift of higher prices for all stocks. A gift that is frankly undeserved. The only difference this time we had to be wear of chinese bearing gifts, not just the grifts. Its this infuriating setup with the dollar and Interest Rates were going higher. We know that those are both poison to stocks. Well stocks were still cl
Critically helping sentiment, china stocks recording their biggest twoday gain in seven years. A number of stocks there are still halted. Weve got the Portfolio Manager for fidelitys 2 billion china fund coming up. He says there are a lot of opportunities in the china market right now. Well tell you where. The latest data show the pc market is just getting clobbered. Its dying yet again. Could microsoft have a plan to revitalize that sector . Thats coming up. Also a new bill that could help patients get their treatments faster but at what cost . Well break down the fight brewing between Pharma Companies and doctors coming up. Troubling reports out today. Lets begin with greeces bailout and reaction from germany. Our reporters are still on the scene. Chief International Correspondent michelle cruisae a carusocabrera live in athens and Steve Liesman in frankfurt. There is new controversy around greeces former finance minister. He cannot stay out of the headlines even though he is no long
The street. Hopes on greece fueling another big up day, not to mention another up day in china overnight. Bob pisani is at the nyse. Right now theyre holding, 21 advancing to declining stocks. The s p 500, really all the gains were frankly overnight around 3 00 when we got word that a deal was in the making. At that time s p futures moved 15 points. We have held most of the gains from the open. Tech Consumer Discretionary materials and industry good day for techs. Facebook set a new high. Buvlg bunch of tech stocks hitting 52 week highs. The greek etf everybody watches was positive and moved into negative territory. Largely the belief that it is going to be a tough sell for tsipras and this deal is a long long way from being done. More on that in a moment. Metals and mining have been strong. This is a separate story because china rallying in the last several doors has put a floor under these stocks. The steel stocks all the mining stocks are up again today. Whats not participating is s