The Dow recovered some of its losses from last Friday as oil dropped more than $4 Monday.
Unveiling the New iPhone
“But, interestingly, Steve Jobs, when he unveiled this phone, he didn’t pull it out of his pocket; didn’t hold it up; he didn’t show it off. And, that’s leaving some to suggest that maybe there aren’t a lot of these phones around and that down the road Applemay suffer some kind of supply issues.”
- Jim Goldman, CNBC Silicon Valley bureau chief
Paulson On Everything
“There’s no doubt that oilprices where they are is a problem. There’s nothing welcome about it. It’s a real headwind, but we’re focused on it and I do believe that the stimulus checks that went last month and are going out this month are going to make a difference and we’ll have jobs that we wouldn’t have had if we hadn’t had these stimulus checks.”
- Henry Paulson, U.S. Treasury Secretary
Lehman's $2.8 Billion Loss
“It’s almost all mark-to-market. And, it’s an attempt, I think, by the company to put anything, everything and anything that can be possibly be anything—Well, from UBS it may be B.S. From Lehman I think that Dick Fuld is Lehman [Brothers Holdings]; Lehman is Dick Fuld. You’ve got a management that wears the corporate logo on its heart.”
- George Ball, Sanders Morris Harris Group chairman
Maria's Market Message
“Crude may be falling, but gasoline keeps hitting new record highs. According to AAA, the national average for regular, unleaded gasoline now at $4.02 a gallon.”
- Maria Bartiromo, Closing Bell anchor
Stop Trading, Listen to Cramer!
“I think that Apple has been a great trade in a really bad market. But, I feel like unless you take three-quarters of your position off by the end of the day and let the rest run, I just don’t feel that I’m being responsible by telling people in 'Stop Trading' to let it run because I just think the odds do not favor another run on top of this.… I don’t want to sell Research in Motion ; I don’t want to sell Research in Motion. I still think they have a lot of momentum. I still think BlackBerry is a terrific name.” ”
- Jim Cramer, Mad Money host