Economic Data: Retail Sales, CPI
Airtime: Fri. Aug. 13 2010 | 8:30 AM ET
Parsing today’s economic data with John Brady, of MF Global, and CNBC’s Rick Santelli.
Airtime: Fri. Aug. 13 2010 | 8:30 AM ET
Parsing today’s economic data with John Brady, of MF Global, and CNBC’s Rick Santelli.
“As far as I’m concerned the technicals are in tact, says Guy Adami. We said the S&P would over-correct to the upside and trade up to 1130 and then turn lower — and it did. Now we’re likely in the next leg lower. We have to see what happens as the S&P trades down to the lower end of the range – around 1040 – will it hold next time we test it?
The patterns in the S&P suggest that support will not hold this time, adds Oppenheimer’s Carter Worth. My persumption is we break lower. I think we go to 980. I don’t think a great crash is coming but we are clearly entering a period when the downside should be the focus of investors.”
CNBC’s Bertha Coombs has the details on a major breakthrough on a therapeutic cancer vaccine.
Treasury Secretary Geithner is set to give an important speech later this afternoon on the next steps for financial reform, with CNBC’s Steve Liesman
CNBC’s Diana Olick has the details on the increase in demand for Florida condos.
The fact that we have not seen any serious distribution days since the FTD bodes well for this nascent rally. It is also a welcome sign to see the market continue to improve as investors digest the latest round of stronger than expected economic and earnings data. Remember that now that a new rally has been confirmed, the window is open to start buying high quality breakouts. Trade accordingly.
Currencies are not the only tool with which Asian countries should use to control heavy capital inflows, Anoop Singh, Asia Pacific Director at the IMF tells CNBC’s Oriel Morrison