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Now. And welcome back, everybody, to the closing bell. Im mandy drew i sitting in for maria bartiromo. Lots of drama in washington. Congressional leaders have arrived at white house. They arrived there about an hour ago with three days to go before we go over that proverbial fiscal cliff. They are meeting with the president and the treasury secretary timothy geithner, and they are trying to hash out a deal. But reports that the president has nothing new on the table has ended up spooking wall street in a big way just in the last hour, and as bill said we finished down near the lows of the day, down about 157 points for the dow. Settling up right now. Down what, about 165 at the very low, bill . I think so, yes. And the nasdaq finishing down 25 points and the s p off by 15, a fifth straight day in the red. Well, it is the last friday of 2012. Its in the books. Check. Still no deal in sight and no new offer either on the table from the president as eamon javers told us a little while ago ....
Well find out what the economy is doing right now. Larry, we just heard gary talk about revenue growth. You said earnings are doing well. Revenue hasnt been so hot. Its been objection right . Do you think youll see a breakout in revenue and market demand . I think its too late in the cycle for that. I think its been driven by cost control. One little hiccup that could come soon, estimated a 0. 7 rise in the cpi because of the rise in gas prices. The broader picture is youve got to like equities. All right. In the meantime, we are heading towards the close, and we will set a new alltime high for what has been a rather unloved bull market that weve seen this time around. The Dow Jones Industrial average will be closing at an alltime high that we last saw in october 2007. What does it all mean . Where do we go from here . Thats what were going to get into coming up in the second hour of the closing bell. Ill see you tomorrow. M ....
amazingly it was a lot worse this morning. the road map begins in europe. the biggest intraday loss in the markets as reports suggest imf may refuse more bailout payments for greece. euro era highs as the country bans short-leg. mcdonald s misses for the first time in two years because of fx headwinds. shares are trading sharply lower with a disappointment soaking concerns of other blue chips. at least the chinese are going shopping. three deals where chinese companies are buying some kind of foreign sneak. canadian and oil gas company being bought for $15 million in cash. we start with futures here in the united states. down sharply this morning as worries about the european debt crisis worry. fears that spain will need a bailout. meantime, spain s market regular hater announcing a three-month ban on short-telling of all stocks. you also have concerns that greece will not meet its bailout commitments. this as the troika hits the ground, greek prime minister say ....
facebook finally feeling the love of investors. the stock is set to close 300 higher tonight after losing nearly 20% falling sharply. as i mentioned, the down my headlines coming out of europe, comforting investors, if you will, this market is trading on all the headlines out of europe. nasdaq composite up. technology was mixed, because dell reported after the close. that was a big miss. we re waiting on hewlett-packard now, there was some stronger parts of tech, and that led the nasdaq to 2850 tonight. s&p 500 up 2.25 points, a handful of tech on the up side. keeping a lid on any gains, for the standard & poor s before being down almost 200 appointments, bouncing off the session lows today. a big turn around for the nasdaq and s&p 500. what happened today? tom belize, and shawn, and simon hobbes and mandy drury. good to see you, everybody. thank you for joining us. good to have you on the program. how do you want to be allocating money here? we had a huge reversal of ....
wants 100% what it s ideological predispositions are, then we can t get anything done. i m happy to consider all options, all alternatives that they re looking at. but things that i will not consider are a 30-day or a 60-day or a 90-day or a 180-day temporary stop-gap resolution to this problem. this is the united states of america. and if we don t manage our affairs in three-month increments, we don t risk u.s. default on our obligations because we can t put politics aside. hey, welcome to morning joe . good morning, everybody. boy, it s like you found some breeze across america. sun dress weather. by the way, you re wearing one of those right now. what do you think? glad i took the shrooms this morning. i m having a good time. i like it a lot. i m for it. i m for it too. it s lilly. i love it. maybe. maybe i should it looks good. msnbc contributor mike is here. he stayed up late last night. he s got night goggles now. the pol ....