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Market Up on Jobs Data

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  • Description

    FBN's Nicole Petallides on stocks impacting the afternoon markets.

  • Duration 2:05
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Operate our stocks now every -- -- -- fled into the CME -- gasoline Enron thing.

But first of the call at least at the New York Stock Exchange mortgage rates hit the lowest ever -- -- at this time to take a look at homebuilders and talk about mortgage rates on -- day.

Where mortgage rates have now hit this new low right and this is -- first here.

3.4.

Oh per cent for thirty here.

Fixed rate mortgage CDC here that certainly wanted to be on the move and look here when you look at these homebuilders the homebuilders are all higher today we did get in pending home sales.

Which were down two point 6% month over month a year over year up 10% so look at the -- this group.

Many of these names are -- 80% 90%.

More than a 100%.

For -- -- ends -- certainly we're watching those and how that would take a look here at the broader market averages the Dow Jones Industrial Average up 48 points right out thirteen thousand.

462.

This after four straight days of selling but we do about -- here that was for the Dow at least and the NASDAQ doing the best of the bunch up nearly one percentage point -- -- -- it's going on over there.

I'm.

Tell me into politics -- in the gas market today it's a squeeze play that's what -- -- right now effect if you look at what's happening in our -- gasoline.

Because of shortages of supplies in every major delivery point.

The New York -- the Gulf Coast you name that it's causing -- a lot of the wholesalers were caught short would supply.

To buy it out in fact if you look at the spread between the front month.

Are bought futures in the back months it's the biggest spread since after Hurricane Katrina.

That shows a lot of nervousness lot of wholesalers might not be able to get supplies in the gonna pay any price for.

The other thing that's adding to the volatility.

-- out.

Futures.

Expire tomorrow on our about gasoline that could mean some trader Toronto plotted -- this spreads to look at that spread between the front end of the curve.

In the back end of the curve for gasoline and more refinery issues coming out.

Naked trader is very nervous back -- -- -- -- I fell flat and Nicole Petallides.

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