Bartiromo on Stock Market Rise: We Need More Evidence the Growth Is There
HEMMER: "So stocks are up this morning. Check it out on Wall Street, 15 minutes of trading. And we’re back yet again knocking on the door of 26,000 for the Dow surging yesterday for the first time in what we call rarified financial air. Closed below, though, that mark, dropped about 300 points bit before the close. Maria Bartiromo, host of 'Mornings with Maria' and 'Sunday Morning Futures'. How are you doing Maria and good morning to you?"
BARIROMO: "Great to see you."
HEMMER: "Here is what I want to know."
HEMMER: "All right. We’re going up, up, up, up, up, up. What stops this bull run?"
BARTIROMO: "Yeah. There's a lot of momentum in the markets obviously, Bill. But you know what? I think when you see a decline that you saw yesterday you have to respect that kind of decline. You have to say OK, what changed here? What’s going on? Why did we drop so precipitously at the end of the day? It could be the 26,000 is representing some resistance for this market, and there is no question that this market has been going nowhere but straight up now, since the election. So you would expect to see some pullback at some point. I would not be surprised to see this market back and fill a little. Now there's go up toward 26,000, come back, go up, come back."
HEMMER: "Well what --"
BARIROMO: "Because we need more evidence now that the growth is there in terms of earnings and in terms of what this tax bill is going to provide."