Claman on Call: Are Diamonds Really Forever?
Claman on Call: FBN’s Liz Claman with an after-hours web exclusive on the markets, iPhone’s and diamonds.
It was finally a day in the green for all three major U.S. indices, thanks in part to comments from Chicago Fed president Charles Evans. In a speech today, he said a strong dollar would allow the fed to keep rates low for an extended period of time. As a result, the Nasdaq had its biggest rally since July, and the Dow saw its largest advance since August.
Big news heading in to the close of the trading day: Apple announced it removed an update of its i-OS 8mobile software. The move came on the heels of users reporting problems after downloading the update on both iPhone and iPad. Apple's stock closed down about 1% on the day.
It's been a mixed bag for housing data this week: Existing home sales came in weaker than expected. But new home sales numbers out today were up 18% - crushing Wall Street estimates. I was joined by Dottie Herman, Douglas Elliman CEO and president. She said despite concerns millenials aren't buying homes, her business is seeing more cash deals than ever.
Are diamonds really forever? Diamond giant De Beers warns diamond prices could rise in the coming years as the gemstones become rarer. In a FOX Business exclusive, I was joined by the CEO of the jewelry retailing giant, Signet, Mike Barnes. He says "not to worry.” As the largest specialty jeweler in the world, the company has plenty of diamonds, and the stock is up about 46% so far this year. That’s before heading into the holiday season! You'll want to hear his thoughts on the health of the U.S. consumer and the upcoming holiday season.
What to Watch Tomorrow
At 8:30 a.m. ET, we get durable goods orders numbers, and the latest figures on weekly jobless claims.