Charles we begin with a record folks. The s p 500 in record territory at this moment hitting an alltime high earlier today. The dow not far behind. Were very close there. Its a huge day on wall street. I want to bring in our guests on that erin gibbs, and shah galani. Let me start with you. Both you and erin are my two favorite market guests. Youre a little cautious on market. Reaction to earnings and data news that is coming up this week. What do you make of it . Im quickly losing my caution, charles, and the reason is, the markets responded very well to earnings. The old recessionary tiff which held market sway for a while seems to be behind us as news comes out on earnings. Markets are looking at earnings, saying what recession . Gdp Growth Continues to be strong. Fed will cut this week. Market moving forward. Dow and nasdaq are making new alltime highs this week. Charles erin, the big news this morning, there is a lot but the tiffany news is remarkable, this is a name, one of the r
Green broke through today. Bob pisani has what was right with todays action. Globally was pretty about but what was weird is the intraday action. Let me give you highlights of what happened. Chinas import and export data, yes it matters, it was excellent. We saw strength in commodities, merging markets. Countries tied to commodities, thats the big story. We saw money flow into europe. Some data is chpy but it is obvious that money is moving into europe. I will show you banks up today. Yens a problem. When the yen starts to rally, the market moves down. That happened earlier today. When the yen weakens, the market tends to do better. That happened later in the afternoon. That may account for the strange pattern. This weird v shape we have today. Yen strengthening in the early part of the day. Weakening later in the day. Take a look at commodity stocks. Again, chinas story here. Commodity have a terrible time the last few months but great day today. Most major names up 3, 4, 5 , right ac