Income we will be joined by mohammad al aryan and minor the Dow Jones Industrial average right now is off by 1 . A loss of 280. The s p down by three quarts of one ten year note yield it is up a slight amount right now. But it was as low as 1. 02. We are keeping an eye on all of that steve as we try to make sense of what happened today and the 50 basis point cut, the largest since 08. You say it was meant to be a surprised but you werent . I dont think if you were paying you should be surprised lets look at the ill at that of the tape friday, unscheduled announcement by the chairman where he said he would use all the available tools and the fed would act as appropriate. That was one yesterday, comments from perota, from la guardia are the ecb, comments from the imf and the world bank along the same lines. We learned about the g7 meeting. This is exactly what you would expect if you went back and look at how these things work, scott there was a complaint earlier this morning in one of t
Correction i wanted to see the market get back to at least flat on year. Now worry below that i didnt want it for the reason that we are currently experiencing it but the world didnt give you that choice. But i did feel we are extended in a lot of areas. A lot of that has been corrected very quickly i want to give you examples that i think are illustrative of what is happening out there airlines are down 9 in two days getting worse by the minute. Somis are down 10. 5 in two days nvidia made a new record high this time last week. Down 18 from that record high parabolic moves to the downside. The s p 500 this morning at its worst level was off 6. 4 from its highs. Nasdaq off 8. 2 vix at the highest level since december 2018. What does all that mean . This is preferable to a turnaround tuesday failed rally that falls apart by the end of the wee and then we sell off into friday, people worried about, you know, oh, whats going to happen this weekend this is better lets get it all out master
Point trading range from top to bottom. Sglefr single trading day this year as youve said. Incredible were up 261 points. We should remind everybody in case you missed it this morning or some hugh a historic day. European central bank decides it will launch quantities taitz difference easing. Japan was first back in 2001. The u. S. Followed suit. Now its europes turn. The baton is being passed and markets are rewarding it. Say with us for a closing bell exclusive, david mckay in his first interview since becoming ceo. Much to speak with him about. Of course moved today by the European Central bank. Also canadas surprise rate cut yesterday. And they make a huge acquisition. National city bank today. He will tell us about it and their plans for the u. S. Denmark cut overnight by the way. Another surprise rate cut. Exactly. They have to respond. Its a cascade. A race to the bottom as it were. And when it has a gate at the end of it you know its big. And the nfls deflategate is now hit thi
Back after the tenyear hit a sixmonth high earlier in the session. We talk to pimco chief officer scott mather in just a few minutes. And treasury yields across the pond as well have had a huge gain. Also that picasso painting sold at auction last night, a record 179 million. Economist norle ra lle lle Nouriel Roubini will be here. He thinks some people use expensive art as a form of Money Laundering, unquote. Hes at it again. Hes dr. Doom of the art market. With an hour to go in the trading session, the dow is down about 18 points. Again, fall back into positive territory. An ounce of downward pressure only a little bit. The s p and nasdaq giving up 0. 2 right now. 4 points and 10 points respectively. That level for the nasdaq 4983. Lets talk about this in our Closing Bell Exchange for this tuesday. Chris ressler is with us rob morgan checks in from sethy financial and Kevin Guinness from Raymond James is with us so is ken moret. Kevin, youre head of fixed income there at Raymond Jame