[ bull bellowing ] e or it pulls up lame. The s p climbing 1. 64 , nasdaq falling 1. 85 . Wow. Whats been driving the run . Simple. Oil. Or more exactly the fading fears that declining oil would cause a credit crunch that could seize up the worlds banks. C and send the Global Economy back into recession. Will the strength continue . One way to find out. Lets go to the game plan. As an old ink stained newspaper person who covered homicide i dont want to bury the lead. The fed speaks wednesday. Im concerned that with oil coming back so hard the fed has lost the principal reason. Fed is afraid of wages coming back and even as its stagnant the oil rally is in fair face. Statement although i dont expect an actual rate hike. I wonder if we arent too bullish about the run in oil. I will have more on that later in the show. We should never forget we want equilibrium where the Oil Companies arent wiped out, taking the lenders with them, but the consumer is saving money all the the pump and coul
We didnt see many of them at all today. Dow gaining 27 points, nasdaq climbing. 36 . You need to understand how extraordinary this whole rally is. Were seeing wholesale reevaluations of what the market will pay for Companies Future earnings. Its remarkable because typically you need something to happen to trigger this kind of euphoric buying behavior. But nothings happened to justify paying higher prices for the same earnings estimate. This is all about an animal spirited bull market that i have to admit seems to know no bounds. Think about it. Think about the absence of catalysts. Start with the Federal Reserve. What did the Federal Reserve do to inspire this market . Actually, nothing. Federal reserve did nothing at all. It merely stayed the course. It said it would be patient. Yet everyone told me wow, thats it. All it did was do what it always does. How about oil . All it did this week was nothing, meandering around the 50s. Earnings have been done. Some good ones, red hat, the ope
Regain intraday high set yesterday. Hewlettpackard shares are a bit lower on the premarket after quarterly revenues below the streets expectations. An interview with meg whitman a few moments from now. Airlines are canceling hundreds of flights due to the weather in the northeast. All the latest advisories. Opec ministers have arrived in europe for tomorrows summit meeting. Find out if there will be supply cuts on oil soon. First up, a deluge of economic data, jobless claims jumped last week, durable goods orders, personal income, Consumer Spending rose last month not as much as expected and waiting for chicago pmi and consumer sent mn. New and pending home sales datap one day after the s p set a record intraday high but closed lower. Shares of hp following after quarterly revenues missed for example, though earnings were in line. Davids exclusive with meg whitman in a few moments. Sara and i were talking before the show, anything that beat, headline durables was higher but the interna
Is consist was this time yesterday the fed was not in a rush to raise investors interest rates. Crude reversing earlier gains after jumping 3 . The yield on 10year jumping to 2. 21 from 2. 14 late yesterday as demand for safe haven Government Debt declined. Look at that. Market the rallying in the wake of a banner day for dictators the world over. Starting in cuba, where president obama out of nowhere through in the towel for 50year battle for human rights and handing over spies as senator marco rubio said in exchange for nothing as we prove we are literally the worst negotiators of all time. On the other side of the globe other brutal dictator also completely vindicated. Kim jongun, now the biggest power broker in hollywood. He controls sony pictures. He shuts down release of what can only be described as a really silly movie. The Strongest Military force on the planet, really . Cant protect a Movie Theater where a ridiculous comedy is playing . Our culture, our values, freedoms, even
One of our main snow cams during this hour yesterday. So again south jersey south delaware, things could be slippery. Bridge opening burlington bristol bridge opening up any minute now and that is, of course, going to shut down traffic for five or ten minutes. It is early enough, volleys light but if you dont want to get stuck use that turnpike connector bridge or head down to the tacony palmyra. Going for a ride north on 202 from west chester through malvern good to go working your way in to that king of prussia mall interchange. Majors in good shape 95, schuylkill expressway, 476 getting out of town for the the weekend, lucky you philly international in delays on a arrivals and departures and mass transit looks good as well with no delays. Chris and lauren, back to you. First on fox a vehicle slams right into a firehouse. Fox 29s steve keeley live at the scene, and what a scene it is steve. Reporter right through the the closed firehouse doors smashed through the thick doors. The doo