- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
- The Gold Rush Is On
TRADER TALK RSS FEED
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Why Amazon Rules Retail
- Wave of Debt Payments Facing US Government
- China Eastern to Complete Shanghai Air Buy by End '09
- The Social Media Gaming Threat
- Paul: Audit the Fed
- JAL Slides to Record Low on Bankruptcy Jitters
- Prepare For Large Decline In Stocks, Next Year?
- Gold Will Collapse Like Oil Did in 2008: Charts
- Lyondell Urged to Consider Reliance Takeover Offer
- Can Murdoch Help Bing Challenge Google and Shift the Content Equation?
- HP's Mark Hurd
- HP Comes in As Expected; Is It Time to Buy?
- 9 Stocks That Play Rising Water Costs: Strategists
- Weis' Deal Likely Won't Change Big Money Contracts
- Gold Prices Can Double in 3 Years: Portfolio Manager
- Nov. 23: Unusual Volume Leaders
- Help Wanted—Please Run $4 Billion University
- Apple Comes to AT&T's Rescue
- How Many US Consumers Will Shop this Weekend?
- Tuesday's Heavy Dose of Data to Dictate 'Risk' Behavior
- Obama says Boosting US Jobs is Top Priority
- More Consumers Giving 'Black Friday' the Cold Shoulder
- Prepare For Large Decline In Stocks, Next Year?
- Appeals Court Denies Microsoft's Alcatel Petition
- HP Comes in As Expected; Is It Time to Buy?
- Cramer: What Monday’s Housing Number Really Means
- Why the Dollar Will Likely Stay Weak for Some Time
More Videos
Trader Talk
Text Size 
This was a very constructive day. Star of the show was home builders, up double digits as mortgage rates dropped to 5.5 percent, down a half point. At the end of the day CNBC confirmed that the Treasury Department was considering a plan to revitalize the home market by reducing mortgage rates for new home loans. the hope: get rates as low as 4.5 percent.
Another positive sign: not only did financials rally, but so did consumer names like Coke[COKE
Loading...
()
] and McDonald's [MCD
Loading...
()
] . For the past two months, most up days would see consumer stocks sell off, and vice-versa. Broad rally like this, with consumers and financials up, is an encouraging sign.
They also drove up prices for retailers, who are anticipating a terrible series of November same store sales reports tomorrow. The question is whether the market has sufficiently discounted the bad news.
Finally, commodity companies got real, finally acknowledging that demand had dropped significantly:
Schlumberger [SLB
Loading...
()
] : earnings below expectations
Anadarko Petroleum [APC
Loading...
()
] : 2008 production lower due to hurricanes
Freeport McMoran [FCX
Loading...
()
] : suspended their dividend, cut capital expenditures and lowered their copper output as copper prices have dropped.
Alpha Natural Resources [ANR
Loading...
()
] : shipping less coal on steel declines
Maybe he'll be right this time. Bill Miller says the market has bottomed! The famed Legg Mason Value Trust head says the stock market has bottomed!
Never mind he is down more than 60 percent this year. What's really bugging traders is he made the same call--in April!
In case you're too lazy to check it out, the headline says, "Legg Mason's Miller sees recovery for stocks; 'Worst is behind us,' famed fund manager tells beleaguered shareholders."
That was April 23rd. Since then, his Value Trust has dropped 50 percent.
_____________________________
New from CNBC.com:
Questions? Comments?
POPULAR TRADER TALK POSTS
- Risk Trade Is Back On
- This Week's Biggest Story: The Dollar
- Corporate Issuance Continues at Torrid Pace
- The Bernanke Dollar Bounce & Gross Says Forget About Rate Hike
- Colgate Really Sparkles After Hours
- Light Volume Has Traders Complaining
- Gold Shatters Another Record
- Have Retailers Reached Their Limits?
- The Retail Mind Game
- The Gold Rush Is On
Data is a real-time snapshot *Data is delayed at least 15 minutes