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Nightly Business Report - April 19 2013

Nightly Business Report - April 19 2013

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Published by: Nightly Business Report by CNBC on Apr 22, 2013
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 <Show: NIGHTLY BUSINESS REPORT><Date: April 19, 2013><Time: 18:30:00><Tran: 041901cb.118><Type: SHOW><Head: NIGHTLY BUSINESS REPORT for April 19, 2013, PBS><Sect: News; Domestic><Byline: Susie Gharib, Bob Pisani, Diana Olick, Jane Wells><Guest: Andrew Burkly, Jim Atchison, Hank Smith><Spec: Business; IBM; Economy; Stock Markets; Wall Street; Bombings; Crime; Boston,Massachusetts; Violence><Time: 18:30:00>ANNOUNCER: This is NIGHTLY BUSINESS REPORT with Tyler Mathisen andSusie Gharib, brought to you by --(COMMERCIAL AD)SUSIE GHARIB, NIGHTLY BUSINESS REPORT ANCHOR: Feeling blue. IBMweighs heavily on the Dow. And although stocks finish higher on the day, it turns out to be theworst week of the year.
And that mood permeated seemingly everyone as a massive manhunt in Boston playedout in front of our very eyes like some television drama.This is NIGHTLY BUSINESS REPORT for Friday, April 19th.Good evening, everyone. I`m Susie Gharib. My colleague Tyler is off tonight.While the big story today Boston, all around the country, everyone was consumed by themassive manhunt in and around Boston for the surviving suspect in the Boston marathon bombings. Americans at work, at home, and even on the trading floors on Wall Street wereglued to television sets for the latest news.But business did carry on. On Wall Street, stocks rose slightly on light volume, but threemajor stock averages ended with their worst week of 2013. By the closing bell, the Dow was up10 points, the NASDAQ gained 39, and the S&P 500 added 13 points.For more on the story and the mood of investors this week, we turn now to Bob Pisani atthe New York Stock Exchange.(BEGIN VIDEOTAPE)BOB PISANI, NIGHTLY BUSINESS REPORT CORRESPONDENT (voice-over): Itwas a tumultuous end to a tumultuous week, bookended by the Boston marathon bombing andinvestigation. Stocks opened mixed, with IBM down about $14 right out of the gate ondisappointing earnings. IBM is a Dow component, and that $14 drop cost the Dow almost 100 points.But it was the ongoing investigation in Boston that dominated traders` attention. For much of the day, traders stood around monitors, watching the developments unfolding. Whenthey weren`t discussing Boston, the focus of the conversation was the poor performance of themarkets. With the Dow down roughly 2.2 percent this week, many traders noted that this wassimilar to the meager 3 percent pullback at the end of February, which proved to be a buyingopportunity. But many have argued that this pullback might be different.
 First, this decline saw heavier volume and panic selling, particularly on Monday andWednesday, when 90 percent of the volume was on the downside.Many are now questioning whether we are still in an uptrend in the markets.Second, the economic news is different. March and early April economic numbers have been weak.(on camera): The final piece of the puzzle is earnings. And with only one-fifth of thecompanies reporting so far, the early news has been mixed. There is one clear trend. Revenueshave been lighter. Less than one-half of the companies have been able to meet their estimates.For NIGHTLY BUSINESS REPORT, I`m Bob Pisani at the New York Stock Exchange.(END VIDEOTAPE)GHARIB: Joining us with more on the markets now, Andrew Burkly. He`s chief  portfolio strategist at Oppenheimer and Company.You know, Andrew, as Bob Pisani just reported, it was a tumultuous week. It was also avery emotional week, not just because of the volatile swings in the market, but because of theterrible tragedy in Boston that continues on.So when you were hearing from clients today, how were you advising them on anemotional day like today?ANDREW BURKLY, OPPENHEIMER & CO CHIEF PORTFOLIO STRATEGIST:Yes, well I think here in New York everyone was kind of glued to the television, but talking to alot of colleagues in the Boston area, they said it was very eerily quiet and just the lockdown wasvery, very strange.

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