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Im kelly evans at the new york stock exchange. Im bill griffith. Doesnt look like third times going to be a charm. The financials, which had done so well, bank of america yesterday with a stellar report that pushed it higher. Today, Goldman Sachs and citi disappointed with their earnings and the financials are lagging this market and leading it lower. President dow was down 105 points at the low. Now were doing 68. Thats right. We have goldman down about 2 at last check. Citigroup off about 4 . Some of the regional financials its a little bit more mixed. We have pnc up despite analysts saying this maybe isnt necessarily a performance they can repeat. While some of the others are lower, even though commercial real estate, commercial and industrial loans, there is growth there. And then theres retail. Best buy. Worst buy. Horrible day for best buy shareholders, which well get to coming up in a little while here. Yeah, thats right. Th ....
Chip average and composite up 38 points, at 3783. And Standard Poors at 1725. Dow and s p at alltime highs. The stocks surging after the Federal Reserve holds off on tapping the brakes on the 85 billion a month bondbuying program. No taper when all is said and done. B bob pisani, reaction on the floor, all status quo, significant . A significant disbelief. Huh . Huh . I was flabbergasted, lets put it that way. The key statement mr. Bernanke made in his press conference here. He said put up full screen Economic Data does not yet provide sufficient confirmation to warrant reducing purchases. Thats what moved the markets. Take a look at dow industrials. From the fed announcement at 2 00 to the height of the market, the dow moved 200 point. Nice move there. We closed off the highs. It was sufficient for historic high. The do ....
In asia overnight, equities markets were a little bit mixed. The hang seng was up by 1. 5 . Oil prices are down another 1. 34. Thats probably because of what youre seeing happening in the dollar. Look at the ten year note before we get to the dollar. The ten year note is yielding 2 point poip 482 . The yield getting pressed down. Take a look at the dollar. The dollar is down against both the euro, the yen and the pound. Right now the euro is at 1. 3353. Oil would be going up. Oil is going down on syria. On syria is coming even further up to the forefront. If you take a look at gold prices this morning, up slightly. Up by 7. 40 to 1,316 an ounce. Andrew. Thank you. What a weekend. I remember five years ago we had one weekend and now we have another one. Its not the same. With Larry Summers out of the race, will president obama pick janet yellen . Is donald kohn a candidate . Tim geithner says he doesnt want the job. We have three gu ....
Facing opposition from both sides of the aisle, Larry Summers pulling out of the race for fed chairman. The onetime Clinton Administration secretary called the president to notify him. In a letter following the call, he wrote, i have reluctantly concluded that any possible confirmation for me would be acrimonious and would not serve the interest of the federal reserve, the administration or ultimately the interests of the nations john gog economic recovery. Janet yellen seen as a leading candidate, seen by the markets as less likely to scale back the Stimulus Program as aggressively as summers would have had he become fed chairman. Is this all about summers or Something Else . Summers is a patriot. He knew this was going to tear the country up. I know he wa ....