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Uncertainity over the situation put traders on edge as stocks fell and gold and oil gained ground. Fdic sues 16 of the Worlds Largest banks. Accusing them of manipulating libor rates. Quiznos files for bankruptcy protection after years of struggling with high debt and stiff competition. And according to an sec filing obtained by fox news, target officials admit the holiday cyber breach may be worse than suspected. Trader Ben Lichtenstein of tradersaudio dot com joins us on the show this morning. Good morning to you ben. Good morning. So what kind of fallout do you think well see in the market. Will we see a major fallout or will it be a kneejerk reaction after that vote in the ukraine . I think it really depends on key levels and consistency or conviction if you will and energy above or below those levels. Last week closing out the day on friday we had some weakness in the ....
From the hill say a resolution for a budget deal looks optimistic in congress. A one trillion dollar omnibus spending bill could be released as soon as monday. The bill will need to be passed by the 16th of this month to avert a government shutdown. A fed farewell. Outgoing Federal Reserve chairman ben bernanke speaks today in philadelphia at the American Economic association. Bernanke will particpate in a q a in addition to his speech looking back on his time as fed head. And. The nation is rocked by an epic snow storm. Deemed winter storm hercules. The nearblizzard condtions continue across the country. With the majority of the snowfall today hitting the northeast. Mark sebastian of swan Wealth Advisors joins us now for some trader talk. Hi mark happy new year. Happy new year. Id like to ask you, were starting off ....
29 points. The nasdaq fell 11, s p down 1. Gold was up 11 dollars and oil moved down a buck 27. Traders tuned in as outgoing chairman bernanke defended his policies aimed at economic recovery which included a massive bond buying stimulus program. Mr. Bernanke also says he anticipates a stronger economy in 2014. And tomorrow. President obama will host an event at the white house for some workers whose long term Unemployment Insurance recently expired. Hell deliver a speech urging congress to pass a bill to extend those benefits when they return from recess today. Chris gersch of altimus capital joins us now, good morning chris good morning. Were now into the first few trading days of the year. What is your gut reaction about where this market is headed . My gut reactions is to really go with what history has told us. And with the santa claus rally thats adding up the five days after christmas along with the 2 days right aft ....
Fell 3 . Gold was unchanged. Oil sold off more than 2 dollars. Regulators are set to fine j. P. Morgan 700 Million Dollars over the london whale trading loss last year. Triple aaa reports. The nation has gone 1,000 days of gas prices above 3. 00 per gallon. And at our last check 13 people are dead following yestrdays shooting spree in dc. Glen schultz of Performance Trust joins us on the show now and glenn has the bond market priced in fed tapering . Absolutely, the bond market is priced in fed tapering. I think in the might of the bond market, tapering is all but certain. So the question really becomes how much or what degree does tapering will occur . Right now people are probably pricing in something between a 15 to 20 billion reduction in the feds purchase program. Right now, the Federal Reserve is purchasing ab ....
Started with a continuation of wedendays sell off following comments the fed could raise rates in around 6 months, but strong. Manufacturing numbers sparked a sudden rally. Gold fell 12 dollars and oil 99 cents. Most major banks passed the feds stress test. All but one could survive a deep recession. Syamantec fires its ceo Steve Bennett effective immediately. He is being replaced by a board member. The chairman calls the firing an ongoing deliberative process. Shares fell 10 after the close. And, at mcdonalds coo tim fenton, is retiring october 1st. His position is being eliminated. Trader chris gersch of altimus capital joins us on this friday morning. Happy friday to you chris. Happy friday angie. I know traders will have one eye on televisions for those ncaa games and the other eye on the stock market. How are theystill reacting to those comments we heard earlier this week from fed chair janet yellen . I think that the traders ....