Options action, on the desk, mike khouw, carter worth and brian stutland. As the markets close out a losing week, Financial Sector has been trailing further behind. Carter thinks thats indicative of a larger theme at work here. Carter . Interesting, of course, jp morgan has been the best but still the bkx index struggling. Theyre making alltime relative highs to the bkx and kre, on absolute basis they look to be rolling over. Lets look at a chart or two. Sticking with jpMorgan Stanley. First thing to note, its quite remarkable. Morgan stanley is the same police it was in september of 2000. So, now, if you have a stock thats gone sideways for 23 years, that means adjusted for inflation, youve lost about half your money. 23experience year, year over year, lose 2. 5 . Thats pretty unhappy. Zeroing in closer, this is the trend line in effect since the covid low. We have converging trend lines, one could say your arrow is wrong, carter, its going to break out. I think its going to break dow
Options action, on the desk, mike khouw, carter worth and brian stutland. As the markets close out a losing week, Financial Sector has been trailing further behind. Carter thinks thats indicative of a larger theme at work here. Carter . Interesting, of course, jp morgan has been the best but still the bkx index struggling. Theyre making alltime relative highs to the bkx and kre, on absolute basis they look to be rolling over. Lets look at a chart or two. Sticking with jpMorgan Stanley. First thing to note, its quite remarkable. Morgan stanley is the same police it was in september of 2000. So, now, if you have a stock thats gone sideways for 23 years, that means adjusted for inflation, youve lost about half your money. 23experience year, year over year, lose 2. 5 . Thats pretty unhappy. Zeroing in closer, this is the trend line in effect since the covid low. We have converging trend lines, one could say your arrow is wrong, carter, its going to break out. I think its going to break dow
Chatgpt but with chatgpt boom with a stake in openai. Publicly traded markets from the macro context, this is one where we see a search for safety. Iran, israel, geopolitical risks heightened, and a squaring away of certain volatility that weve seen throughout the week when it comes to concerns about cpi, ppi as we move towards the weekend. Equities for once are moving the opposite way of the bond market, even though the bond market has been selling off it managed to ride higher. Today is the opposite paired we have seen money move into the havens that are the 10 year yield off by 8, 9 basis points. Money moving there. Money moving into the bloomberg dollar index, the highest weve seen since 2024. Money coming out of equities as we worry about geopolitical tensions off by one point 1. 4 on the nasdaq. Moving on, having a look at what is happening at another key risk asset, actually surprisingly flat for bitcoin over the course of a week. No volatility on a daytoday basis, we have just
Options action, on the desk, mike khouw, carter worth and brian stutland. As the markets close out a losing week, Financial Sector has been trailing further behind. Carter thinks thats indicative of a larger theme at work here. Carter . Interesting, of course, jp morgan has been the best but still the bkx index struggling. Theyre making alltime relative highs to the bkx and kre, on absolute basis they look to be rolling over. Lets look at a chart or two. Sticking with jpMorgan Stanley. First thing to note, its quite remarkable. Morgan stanley is the same police it was in september of 2000. So, now, if you have a stock thats gone sideways for 23 years, that means adjusted for inflation, youve lost about half your money. 23experience year, year over year, lose 2. 5 . Thats pretty unhappy. Zeroing in closer, this is the trend line in effect since the covid low. We have converging trend lines, one could say your arrow is wrong, carter, its going to break out. I think its going to break dow
The dollar index is up. Trading at 12. 53. Near 20 year low come up about a points under the alltime high that it hit last year. Nymex crew to gaining almost two dollars a barrel. This is west texas intermediate at over 90. Pretty aggressive moves up in oil. Jonathan we are also watching tech in a big way. Some mix performance from these three names. Lets start with the losers hp under pressure that Warren Buffetts unloaded several million shares per yet we are seeing a touch of weakness in adobe stock added the companys quarterly results. Adobe when the ai gainers so big expectations. One endless view that etsy and others view is that as he could perform well. That stock responding to that. Wall street call today up 3 per year the big story of the day has been the highprofile arm ipo. After that trading debuted we continue to watch the stock. Currently up more than 18 at this hour. Matt one were waiting for all morning. Did not start trading until this afternoon per year just after th