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All that and more on nightly Business Report for monday, december 1. Good evening, glad you could join us. Susie gharib has this evening off. December is traditionally a strong month for the markets but there was no santa claus rally today no, siree. Oil prices went on a confounding ride, down and then up, and stocks seemed caught in oils spell. But that wasnt all. Stocks were also tripped up by weak Economic Data from china and signs retail sales here in the u. S. Werent so hot this past weekend. More on that in just a moment. But heres how the markets looked at the closing bell. The dow ending 51 points lower than fridays record close and the dow transports were sharply lower today, too, we should point out. The nasdaq lost 64 points and the s p was down 14. But once again, the big story today was the price of crude, which began the day by sinking below 64 a barrel to a fre ....
All that and more on nightly Business Report for monday, december 1. Good evening, glad you could join us. Susie gharib has this evening off. December is traditionally a strong month for the markets but there was no santa claus rally today no, siree. Oil prices went on a confounding ride, down and then up, and stocks seemed caught in oils spell. But that wasnt all. Stocks were also tripped up by weak Economic Data from china and signs retail sales here in the u. S. Werent so hot this past weekend. More on that in just a moment. But heres how the markets looked at the closing bell. The dow ending 51 points lower than fridays record close and the dow transports were sharply lower today, too, we should point out. The nasdaq lost 64 points and the s p was down 14. But once again, the big story today was the price of crude, which began the day by sinking below 64 a barrel to a fre ....
Strength of the market. I often feel the averages can be misleading. The averages always play a ole in thinking about the power of the move. But its how the market rallies. What stocks make up the advance and why they are advancing that really makes a difference for this guy. First, yes, i care about the direction of the averages. Provided that the wealth in the averages is spread across many different sectors. Remember, there are good rallies and badle rallies. The house of pain. House of pleasure. A good rally has many sectors rising with with good leadership. A house of pain rally is led by stocks representing one or two sectors as was the case in the runup to the financial crisis with the miners, minerals, oils and fertilizerers stocks leading the advance. Thats an unholy group of generals that cant get the job done. More reason to sell, sell, sell. Than to buy, buy, buy. The more the merry and the stronger the rally. That made me excited today. Until today a group was with left be ....
Today, which is the chief reason why the average has turned tail after an initially positive showing. The dow dropping 70 points. S p shrinking. Nasdaq chilimbing 0. 05 . You know i want to make everybody the largest amount of money. If its legal and it turns a profit, its got my blessing. So if windstream, a super highyielding Telecommunications Company gets a private ruling from the irs that it can spin off assets into a Real Estate Investment trust and create instant value for you, im thrilled. Thats just what happened today. If centurylink and frontier communications, two companies very similar to windstream go from that idea, take advantage of the tax code goodies, more power to them. Those are real gains that you got today, big ones. And i think such that kind of Financial Engineering and ....
Across the asia pacific beginning in the week with a pbt . E of well break it for you here on bloomberg. Were seeing the aussie dollar lower. Check out whats happening across the board. Youre seeing red arrows at the a. F. X. 200 there. The drops. Gold is advancing among the precious metals. Weve watching some of the tech makers including nintendo. Taiwan opening. Well keep a close watch on the asse rsks t today after that companys opening on friday. Looks like a decline for those markets. Well be watching that very closely. Precious metals they are extending earlier gains. National gas futures declining. We had lackluster earnings numbers and a reminer that the u. S. Markets are closed for a national holiday. Rish the data out of china will be moving and all the tech news that is moving out of japan. Take a look at nintendo shares. Plummeting at the open. This after forecaster surprised the japanese game maker losing the battle with the xbox. And john is right here to explain. Whats g ....