And the nasdaq is up by nearly 31 . By the way, if those numbers arent big enough for you, check out how far stocks have come from their march 2009 lows. The dow over that time period gaining nearly 145 , the s p 165 , and the nasdaq nearly 213 . Yeah. March 2009 lows, what a long way weve come. As you take a look at futures this morning, theyre flatlining at this point, probably unsure what to do after yesterdays big gains. As for the rates with the tenyear, at this point the tenyear is yielding 2. 782 , so below 2. 8 , but its been rising and rising on the expectation that the fed is going to have to start tapering at some point, and that will eventually lead to higher Interest Rates. The obama rallys in full force. 2009. What happened in 2008 . The election. Yeah, thats right. Here we are, baby. Rich people are getting richer, though. Thats the only problem. I know thats your new problem. Heres my two anecdotes. Yesterday, over at the gym trying to, you know, get rid of whats the name of that new issue . Potbelly. Com . Whenever i see that, i think what . Well, i just, i was running yesterday. Im going to get this down to where i look like Bradley Cooper or something. When you put on your jacket, i had no idea how much you wait until i have the sixpack, when i replace the keg with the sixpack. Anyway, so, a guy says to me, joe, double, right . Double. Okay, that was number one. Because if people are talking about bubbles, the bubbles not here. Its only when youre not talking about a bubble that it finally bursts. Sneaks up on you. This morning, i have another ocd, and that is that i have to top off my tank. I need to get it all the way up so that it stays on full for, you know, how well, you dont know, but it stays on full. Thank you. Yes. Thats when you get it stays on full for a long time the gas station guy said no, not the gas station guy. So, i have to get it up there. Otherwise, if it starts here, it goes right down. So, im out of the car and i hear a guy i love these. I hear a guy, hey, kernan i look over and he says, you say cab drivers dont watch or talk about the stock market. Hes in a gw cab, which is right on route 46. Yes. Hes getting gas, and he says, i watch every day and im watching the stock market, i love the stock market, i love squawk box and i watch every day. Yay so, but hes not representative, i dont think. I dont think were there yet in terms of where everybody right. But that does sound like things are starting to percolate. Yeah, i think its in the good stage where its starting to spread out to maybe that means Retail Investors are ready to jump back in. Last night, nightly news made a point about this, the first time the dows traded above 16,000, so the words getting out. But cab drivers. He said he was watching thinking is that true . Thought id mention him. So, what does that mean . One guy says bubble, the other guy says hes watching. I think it means i think theyre starting to still a ways to go. Fourth or fifth inning . Middle of the fifth . Bottom of the fifth. Fourth . Doubleheader . So far from seven, eight, nine. Thats the point. And up 25 . Im not going to mention my call for its not one, two or three, though. Its not first three innings when you look at the gains. Were somewhere in the middle of the game, but where, im not sure. And you know, people is thank you democrats are always better for that is true, by the way. If you want to live like a republican but you i cant remember. If you want to live like a republican, vote like a democrat. Thats what they say. There you go. And is it because of stimulus . Is it because of is this the obama rally or the bernanke rally . Thats the other thing to think about. I would argue the bernanke rally is the obama rally, because obama, he wasnt the one that he wasnt i agree with that. You know who was the original decider and who was on jay leno and who was with Chris Christie yesterday. Oh, i didnt know he with with Chris Christie. I knew about leno. You have to think about this 43. Hes an artist now. I know, hes been painting. Had mccain been on or a republican, hear this, its possible that they would have replaced bernanke. Oh. With somebody who probably would not have pursued this type of you might have kept bernanke the first time. And you may be right i think you would have been crazy not to have kept him in the midst of everything they had done. Well you dont know the plot of your next book yet. I dont know the plot as to how we exit. Ive got to work on that. See who wrote this piece about how qe is bad . No. A guy whos name is frickin saving. Thomas saving. How did they find a guy named saving to write a book about how savers dont are getting crushed . Yeah. His name is saving. Hes been unable to save. Anyway, he wrote it with phil gramm. Last but not least yes, sir. The one guy who wrote against if you like the rules, you can keep them. Obviously not. The senate rule. One of the democrats well, three. There were three. Manchin, in a republican state, and the other one i have disparaged carl levin before. I have to say, class yesterday. Class, right . Right, because hes a look, i dont think this is a partisan move. This is about protecting the institution of the senate, and the minority was always supposed to have some room there. Now, it takes two to tango, and the republicans have done some stupid things with blocking and just refusing to put any judges through. But it was just as bad when bush was trying to do it. There are more there have been more they started it. Anyway, heres the journal got a little pissy here. Listen to this obama care would have never passed if mr. Franken hadnt stolen the minnesota recount and if prosecutors hadnt hidden the expulcatory evidence that would have showed that alaskan republican senator ted stevens, false ethics charges, but this hid some of it. But it says if franken hadnt the former comedian whos got the biggest mouth in the senate now if he hadnt stolen the recount, then there wouldnt be obama care in the first place. But you know what . Obama care is the more that well, no, i just [ everyone talking at once ] you know, without obama care, we wouldnt have anything to talk about every day. This is true. But it does say that the rise above message is not getting through. This is about ramming it down do you think they listen to us . No, this is about not working together with the other side. This is a problem. This is bad for the institution. And by the way, a lot of the people who voted for it voted against it back in 2005, eight years ago when it was the republicans who were trying to do the same thing. Everybodys changed sides. But obama now, after voting to raise the debt ceiling, he was also adamantly opposed to doing this as well. So, we know how politicians operate, but i was going to ask you just all these guys, tom harkin, a democrat in favor of it, says hes been waiting for 18 years, eight years ago said this was absolutely the wrong thing to do with the institution s. Mcconnell who was in favor of it eight years ago is opposed to it. Basically, they just traded sides. Am i okay with what . Heres what happens now, hes not going to get anything through legislatively yes. So, hes governing through regulatory measures now. Correct. Now, any of the regulatory measures that are challenged at the District Court of d. C. , he can stack that court so he can yes, he can. Okay. The other thing is, polls have him at 37 , 40 , somewhere between there not a good well, no he cant whos going to be how much below i dont think he had 47 , like romney said, but hes got 37 . Hes got 37 that will never waver for him, so he cant go any lower i dont think hes worried about it. Hes a lame duck. Not now how many votes do you need to repeal obama care in the senate now . Thats a good question. 51. Well, 51 because they figure if they got the majority, they would change the rules to continue this nuclear option. Because why not change the rules at this point . When youve lowered the standards. If you like your rules, you can keep them. Lets talk about the markets a little bit more. We went off on a little bit of a tangent, but a good tangent at that. One of the Big Questions during the stealth rally, which weve been calling it, is whos actually taking part in this. Lets follow the money. Inflows of 4. 28 billion in the week that ended wednesday, roughly in line with the fourweek moving average. Etf investors added a net 1. 6 billion to their accounts. What about other investment vehicles . So, the ft reports that global money market funds are projected to lose 33 of assets under management next year. The paper citing moodys for that. The firm says that headwinds for money market funds include low Interest Rates, and of course, new regulations in the in the u europe. The thing about these numbers is whos participating, right . This goes to the cab driver thing and whether the cab drivers actually participating. Thats a lot of money thats going into the market during this period. I would have thought people, given the conversation weve been having on this set, where everyone seems to be a little anxious, that would have been the opposite. I think its new money. But there was a time when people liked to, you know, if they they see social media and take a shot at something, and the stock market, im not saying its gambling, necessarily, but there was a time where you could dabble a little bit and make a little money and take a vacation, you know . It used to work, and now people are just deathly afraid of another move to 6,000 or something on the dow. I mean, i think weve got time to slowly get people back in before they become bag holders, which happens to bad thats your point, maybe fifth inning or something. Yes. Not seventh, eighth or ninth. Are you seeing in the seventh . No, no, no. Do you sing in the seventh . Is that the seventh Inning Stretch . Thats the seventh Inning Stretch. You sing take me out to the ball game. I think you want to be out before you get there, because you dont want to be around for eight or ninth. And you want to be out before the fullfigured gal sings. Thats true. Is that how we say it now . Shes a lady. The plussized lady. Before the plussized lady sings. What else is going on with stocks and bonds this morning . I dont think you can use the f word, right . Youre skating very close to that right now. Im drinking a diet coke. All right, we mentioned stocks and bonds, but what about the broader markets . I want to know what they said about gold, because we laughed when they said it, when they were saying it was going up, gold. Goldman sachs is predicting a significant decline in gold in 20 2014. The precious metal is already down 20 this year and i could have sworn goldman was bullish on gold. Look, David Einhorn was bullish on gold i saw him yesterday. He said, well, i bought it in 2009, it was a pretty good trade. I remember him with his donut comments. We were up at about 1,500 on gold, werent we . He was completely wrong with that. These guys never admit theyre wrong. Hes also got a new hairdo. Did you notice that . No. I dont know. Anyway, the firm says that bouillon is set to fall at least 15 next year. Goldman issued a report of the top ten market themes for 2014. A warning of the growing Downside Risk for commodities. Gold this morning this probably would affect the precious metal because goldman had some sway, but its only down 1. 60, but thats a new, pretty close to a new intermediate term low. Not quite. I guess it could almost touch 1,200 to get down to recent lows. As for oil, which were waiting. I paid 3. 30 for premium this morning. Were waiting for this to help the consumers, but we didnt see it yesterday, thats for sure. Not from target or from the others. Finally, as far as currencies go, as the tapering, i think, gets closer, but maybe it isnt, but were back above 1. 35. It is a relatively quiet friday on the data front. Two economic reports of note. The Labor Department is going to release job openings and labor turnover, the survey for september. Thats at 10 00 eastern, not on our show. Then an hour later, the Kansas City Fed survey. As for earnings, Companies Reporting this morning include foot locker, which for a while was that the one that was no. No, that was woolworth. And also, petsmart. Someone the other day said people that have pets live longer, and i said, well, im going to live long, then. A lot of dogs. Three dogs, a bunch of fish, a couple hamsters. There may be a shortage of data beta fish. I like the beta fish. You knew the second you went from true. But we still have plenty to discuss about im starting to know you. When you start with hamsters, its just its hamsters that got me. How did that i dont know. When did hamsters become some kind of sick joke . I dont its not a joke. Has it come to that in society, where little kids cant have cute little hamsters at this point without some disgusting nuance i dont know. I dont even know what youre talking about. So, were bringing in a special guest this morning, not right now, but later. Atlanta fed president Dennis Lockhart, hell join us live at 7 30 eastern. Hes also going to talk about the rebuilding of atlanta after being ground zero for the walking dead and the walkers. Theyve made great progress. They have made some progress, but there was it was a wasteland for a while, just people, right . Well, theyve done well. I think the cdc is doing much better than it was, too. Cdcs a real that was a rough case. That was rough. It blew up. Why dont we talk about the Global Markets now with the Global Markets report . Ross westgate is standing by in london. Ross, good morning. Hi, good morning, becky. Good to see you. Yeah, not much followthrough for european stocks following that close on the dow last night. Were about 54 decliners outpacing advancers, so fairly flat, but we are just about at the session lows. There was a bit of a kick on first thing this morning, then it sort of evaporated, the early gains. The ftse yesterday was pretty flat, and thats where we stand right now as well. This mornings gains down 14 points. The xetra dax is off 13. The big story this morning was a tick up in the ifo, institutes Business Climate index, europes probably most important Sentiment Index that covers germany. 109. 3, better than the expected 107. 7. They say manufacturers are more optimistic and theyre doing well on the back of stronger exports. That did just boost the euro up to the session highs as well against the dollar. The euro also up fouryear highs against the yen. The kaycac is up. Ftse mib down half a percent. Breaking down the sectors this friday, pretty even steven, which reflection the normal sort of focus. Basically, resources weaker once again. We are, we had that disappointing manufacturing pmi from china yesterday. Thats followed through to today as well, and the dollar firmer against the yen. Media, technology a little bit firmer. Keep our eyes on technology with the launch of the xbox as well today and see how that does against playstation games. We also heard from mario draghi today as well, two days in a row. Hes sort of saying they talked about deposit rate cuts yesterday, but with the ecb meeting, there was nothing more on that today. He was much more focused on putting together a single resolution for winding up european banks, and this big disagreement between germany, who dont really want any mutualization of debt and banks in france and italy who say we need to have a fund to do it. Draghi today very much trying to toe a middle line and get some consensus around that, but that will be a big focus for european politicians before the end of the year. Yields as a result today on bunds just a little bit higher as well post that data. But otherwise, fairly flat market right now. Back to you. Ross, thank you for that. We also have Corporate News to get to this morning. The wall street journal reportion that Charter Communications is near a deal to get a loan to make a bid now for Time Warner Cable. Sources say that if charter turns to outside equity from sovereign wealth funds or other sophisticated investors, the amount would be less than 10 billion. Keep an eye on time warners stock, because theres going to be a lot of rumors floating around for the next couple weeks about whether they really are a takeout target. We talked about them as a possible one for quite a while now. Expensive, right . It would be expensive, and the biggest ever, wouldnt it . No, no, no. 45 billion, 40 billion, Something Like that . From the biggest ever deal . Biggest ever deal is vodafone buying management for 183 billion. So, theres a lot of room between yeah, but this for a Cable Company . 40 billion thats not bad. What was aol . That tha was that was 134 billion, right . You had to pay the premium for it. The kind of premium for this . 20 . Yeah, probably. Its a pretty rare deal. Its a rare deal. In this environment . Its a rare deal, so, well see. What was the last one that was big deal of this magnitude . We havent had a big deal of this magnitude in quite a while, so. No, i mean, vodafone buying the other piece of verizon. But thats not a real merger, so well see. Also, this is a little deal but big deal to them. A jury awarding apple about 290 million in damages against the retrial of samsung. The decision restoring a large chunk of a historic verdict that the iphone maker won last year. Samsung had argued it should only have to pay about 53 million, so to samsung, 290 million is a lot. To the coffers of apple, maybe not. Right. Maybe not so much. A decision on whether to approve bank of americas proposed 8. 5 billion settlement with investors in Mortgage Securities is now in the hands of a new york state judge. A nineweek Court Proceeding ended yesterday. The judge now must decide whether its reasonable for the trustee of the securities to enter into the settlement, which is binding on investors. All right, coming up. Well, number one, you know, you read things in the post. I guess when the post had that thing about the bag man and the they sullied the two guys, the boston bombers, that but did you see the front page of the New York Post today . Thats not what im going to talk about. But i was interested in that, the reprint of what they p