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to fall. interestingly, not putting much downward pressure on the stock market. also, commodity futures trading commission head timothy mass 5 2k joins us after announcing the settlement with the banks. there are some smoking gun chat room messages you have to see on this story which has some wondering why the penalties announced were not greater. we ll get into that and more with timothy massad coming up momentarily. two earnings are out in an hour. cisco and jcpenney. we ll bring you the numbers that could move both stocks and overall market, second they hit the tape and the best analysis on the street that all starts right after the closing bell. at&t is halting build-out of fiber optics in about 100 cities in what so far is the most apparent chilling effect of the president s call this week to clamp down and regulate the internet. this as reports say that the fcc chair may defy the president s call for net neutrality citing the agency s independence. this stor ....
all shapes and sizes, dow plunging 331 points, s&p plummeting 1.3%. some blame the strong dollars. others said oil got too low too quickly. in my opinion, way off the market. after a 12% gain many investors are trying to lock in some profits, and i have to ask you, after a 12% gain in the s&p, who can blame them? a fitting moment to question the silly preconsumptions that served as alibis all day for the selling we saw as we try to fathom this decline and try and figure out how to make money in the market in the coming next few weeks, if not months. the also perceptions cost you plenty in 2014. when i look at the lessons learned from last year s double digit game intense fire and ill logical thinking. let me put it this way, if you listen to worries we heard articulated today and acted on them, you lost big money in 2014. i don t think it will be any different this year. i got ten take aways from 2014 stellar performance, but i got to share with you today on this hideou ....
by pretty much all by yours truly. i liked it because it set the barlow for the rest of the year. the vast majority of companies reported when the dollar was too strong. now we have a totally different scenario i see the dollar putting in the top, i see europe getting better than equity examined and i see order where others right now are gripped by chaos, the backdrop is changing. which means we will not be listening to hang dog executives whining about all the head winds out there and i like that. we will hear domestic companies that will be in refinance heaven and not only that, washington is off the front pages again. in short, we have a positive backdrop. approximate the now the unemployment events are in the rear view mirror. who is important next week? first we get the kind of company that i m liking here. masco, the cabinet, plumbing and paint maker. does a lot of business in europe by the way. when i listen to the land of a thousand dances i spot the green shoo ....
in full force. and they want to know they want to know with guns blazing, how can i be so cavalier on the eve of yet another showdown in europe between germany and greece, a showdown that shaped the whole day s trading with the averages off hard nearly most of the session until rumors of a deal between the two rallied the market, with the dow still sinking seven points. the basically basically flat lined and the nasdaq advancing .28%. all on the thought that maybe there s a deal in europe. what kind of pollyanna am i to ignore this? i say hold on a second. first, am i the only one who thinks that we re blowing all of this way out of proportion? not unlike that horror story scooby doo on monster island with the tag line this time the monsters are real ? let s say that greece s finance minister, who will surely be played by jason statham, actually does stare down germany s angela merkel, and merkel blinks, which appears to be the case. what happens? i think our stock ....
pipeline on shore and hasn t stopped at this point. crews are trying to contain the mess. right now let s get to the market business of the morning. you can see this morning the futures are missed. up by 5.5 and nasdaq down by 0.5. they say the country will not be able to make an imf payment due without it s international lenders. the euro hitting a two week low on renewed concerns about athen s debt and in corporate news the justice department expected to announce a settlement with five of the world s biggest banks. they re accused of rigging the currency market. fines are seen topping $5 billion. the first out of the gate. the swiss bank says it will plead guilty and pay $545 million to u.s. authorities. a possible change in u.s. tax regulations would effect the spin off in alibaba. it s working toward the plan spin off in the fourth quarter and ads it understood the irs statement was not specific to the company. it was a statement made yesterday about shifts in how ....