Bernanke Sends Dow Shooting Up

Ellen Braitman analyzes the morning business headlines.
10:29 | 03/26/12

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Transcript for Bernanke Sends Dow Shooting Up
Dow futures were up ahead of the bell this morning and joining me now to discuss all the business headlines we Begin a new week. -- brave -- from Bloomberg TV -- it has been a while how are you and good morning good morning to you are still looks like -- during the day in the Green. Fed Chairman Ben Bernanke have anything to do with this. You know he's definitely helping out he gave a speech earlier this morning and one thing he -- Was yes unemployment has come down but it's going to take continued accommodative monetary policy to help bring down unemployment. Even further. And -- a lot of folks have been looking for we know the backdrop of the US economy is that continues to get better. The -- has continued to promise low interest rates but does that mean the so called. QE3 is completely off the table or any other things that the Fed might do. In order to help continue to stimulate the economy so here he definitely didn't take anything off the table and he said the -- is gonna really. Continue possibly to do more so that definitely helped us. Extend interest rate futures I should say stock futures this morning and even before that we had been stronger because a report came out. In Germany showing business confidence unexpectedly. Doing better than had been expected to put them together. And -- its stock futures up right about where we are now that many stocks have opened for trading which -- About seven tenths of 1% for the benchmark apparatus volatility though relatively low right I mean what's what's going on ministers to -- sort of -- as the date mood on Wall Street. You know we're not having the wild swings that we had in the -- of the debt crisis for the financial crisis certainly not what we had in the US financial crisis back in 2008. And it really is because we've had. A lot of the economies around the globe especially including the United States. That aren't growing or were doing better than folks had feared a few months back so we're not seeing the same kind of swings. Coming at 10 o'clock we're gonna have pending home sales coming I know last week we -- new home sales what do we get it looking for and his numbers this morning about pending. Right so this is you know folks expecting to buy homes are signing contracts and we're expecting an increase. Compared to the prior month and compared to the year ago levels but I do want to point out in terms of the -- -- housing data we got last week. We definitely have evidence that this housing market continues to recover. But it does have some bumps along the way so it hasn't. Gained a complete traction where -- you know completely in the clear yet and so some of the reports last week reminded us that. You know fits and starts here when it comes to this housing recovery once we get it -- online big thumbs up that right. People say you know and so -- you don't have Wright -- but that you can't have the complete. Full US recovery until the housing market recovers because. It reflects so much -- people buy homes when they have jobs -- Ater they're able to sell homes on the -- that the prices that they need so definitely an important part of the picture. Also today in addition of those numbers -- 10 o'clock the Supreme Court is gonna start its hearings on the national health care law. Stocks that most likely would be affected by these kind of developments from DCI -- typical of the kind of -- legislation or any kind of judicial activity to something monetarily but what would you see it might be something to watch for. And it's something that gets -- stand over a period of weeks days and and months and obviously -- it comes to health care also. You know over a multiyear period so we may not see the moves haven't necessarily this week but. One thing that we've been noticing is -- health care stocks have been underperforming. The broader market whether it's the drug makers themselves. Or whether it's the big insurance company is -- taking a look at the S&P on health care index -- benchmark of the insurance companies you know the -- points for example. UnitedHealth. And they have been under performing because of course of the law is struck down they're not gonna get all the additional millions of members that they will get if the -- is held up. All right -- wages the other everything's gonna -- obvious that the Supreme Court -- see how it actually -- Wall Street as well. You know the the saying there ought to be a law. About that and it seems as -- now they're actually may be a law about this practice of potential employers asking applicants. To hand over their FaceBook passwords. Which I know we always talk about this a lot whenever you're applying for jobs clean interface -- -- Twitter accounts things -- that but now there might actually be legislation in place that'll stop potential employers from doing this. Because there been some reports in in recent weeks at some. Employers and and -- we're looking at the AP story that came out a week or so ago that was one of the first stories on this. And it was some some local governments and such that with our. Or agencies that were -- -- Applicants for their password. FaceBook passwords. Based book came out on Friday they -- it's a violation of FaceBook policy. To get someone or give your passwords and -- and other than yourself and also warning employers that it could. Open them up to discrimination. Charges if if they do this and then also now you've got senator Schumer of new York and Blumenthal of Connecticut. -- in the department of justice and the employee EE SC -- opportunity commission to take a look and see AF. Employers that ask for passwords or whether it's FaceBook or any other kind of social networking site if it's a violation. -- any federal law so not draft legislation -- a lot here yet but an investigation about whether any laws are being violated when people. Laughs that's basically -- -- -- on FaceBook does not like to be pushed around it is now have now apparently it's in the law business as well attended where can -- So. Apple CEO Tim Cook he made a visit to China what's he saying about Apple's plans -- an of the company's been doing with some. Obviously labor relations over in China but also for retail sales over there. Yes -- not only are so -- the products made there but it's also the second biggest market outside of the US. We know they read -- -- some problems when the four ask iPhone went on sale because that it. Have all the products to want to remember people -- throwing eggs at one of the stores. We'll -- Tim Cook is there now he met with officials we don't know -- officials don't yet know which officials he met with but he also is that one of the stores in Beijing -- his picture taken with some customers. And what he's saying is the company is going to be investing more there once I want to point out for context they're not only is -- such a huge market. For apple but getting even bigger not just because the country. Is getting wealthier and they're -- a growing middle class but also it just signed a deal. With one of the big mobile carrier so extending kind of its potential reach there because now when you get more carriers onboard as you know it means that. You got more potential customers because they have a carrier -- enough supply them. Absolutely art and an embarrassment last week of botched IPO of bats. Explain your personal where's the company what what does bats do because -- think that kind of links into the embarrassment of this is this what I'm understanding. Breaks -- -- is called at bats global market 11% of all US stock trading takes place its electronic marketplace. It really represents kind of this frontier that we've been moving toward over the past three years -- -- your stocks or are traded on the war say. At the New York Stock Exchange and and -- are traded electronically so what happened was late last week the company was doing its own IPO. While on the day that happened on Friday it had a delay -- calling it a computer Glaxo shares. Of its own stock didn't trade properly also there was a bad trade and apple. An apple looked all of -- -- like the stock had -- -- pretty quickly -- systems replacing the apple shares were halted. The trade was canceled and things went back to normal but what's interesting is and bats came out and actually hold its IPL. So really an embarrassment here for that company it's self because -- in the business and trading. And also really illustrating and highlighting concerns about electronic exchanges you know really at a time. Where regulation. Is increasing member we have that flash crash a while it goes -- our concern are this systems in place to keep. Treating running properly. What what do you hear from traders -- they say hi this is proof in the putting right -- on the to have us around here when you can't reliant electronics to handle everything. Queen of the floor traders have always said that I was actually filling -- at the New York Stock Exchange for colleague of mine on Friday. And I was talking when the traders who said 90% of his former colleagues many people used to work on the floor are no longer their -- -- -- 90% is the exact figure but. -- bass parts of the trading floors there that are. That are empty and gas the guys on the floor of the women on the floor will tell you. They keep the orderly market because that they can -- things and figure out right away if if something's not happening for a normal or you know -- -- news related reason. Paying interest to our it was entertainment hunger games. Bona fide hit at the box office this weekend -- not what is if I didn't see it now Mike I think what -- like five people -- the -- -- -- -- it hasn't seen about. -- is -- how they dealing. The company that produced the film. -- -- lions -- behind it at what a turnaround for this company because they also. Are behind twilight so lions -- shares this morning it was up about 11% when I -- just a few minutes ago it was up 5%. But even before today's trading Lionsgate shares up 75%. So far this year -- The movie did phenomenally well with the ticket sales you know one interesting thing we've been looking at here Bloomberg today is the fact that. This really could spur demand for more. Female hero centric movies right picks are actually has its first movie coming out with a female hero in June all -- have been then until now. But also -- thinking you're ready equalize you know it's a movie that until now really has been appealing majority to women. But. That as kind of words -- -- -- the movie as you're gonna see more men coming in as well on that and that that's it should normalize there. In terms of the breakdown but -- people love of the stock because -- -- the movie the ticket sales are just -- and third best weekend opening ever. I want and I'll give your critique you like it was worth all the high. I thought it was a great movie and you know -- was great seeing with my teenage daughter because there's so many really substantial issues in conversations you can discuss and -- -- is extremely well done and really turn a buck. Wow art look good to see right there L -- for let's go to one let's look at the big court today. The Dow up 105 points at thirteen 1001 -- 85 Allen Braden from Bloomberg TV thank you so much for joining us have a great Monday ET down.

This transcript has been automatically generated and may not be 100% accurate.

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