Final hour of trade for investors who have been watching all day long this pretty significant selloff. Live from the floor of the new york stock exchange, we are talking to traders, market gurus, all kinds of people who will help you deal with this hour and with the money. I want to show you a couple things. Dow, s p and nasdaq, we will clock it right here, because you are seeing the selloffs. We are off the lows of the session. We do have the Dow Jones Industrials down 821 points. When it opened, it did absolutely gap down but they are looking at the moment at the s p down 89 points. It had been down triple digits. I will tell you that much of this started with the coronavirus spreading to unlikely countries. We are talking about iran and italy. Investors, very concerned, of course on friday on the claman countdown we told you wait a minute, there is this hot cell of cases of the coronavirus in northern italy, an area called lombardi. Sure enough, what happens, we are looking at real
Thinks peloton is not just a fad. Cap bullish sentiment coming up. Continue with dominance of tech in the u. S. Markets. Up 1. 7 percent, nasdaq of more than 1 . Is something bigger going on . Let 2019. 2019. Feels like yesterday after the signing of the trade deal, it was just the stocks that dropped. Typically a relief rally would come after a big selloff from the major averages. It feels a little bit more like perhaps the early stages of euphoria with the bubble paradigm. It and dislocation been into the economic phase than a euphoria and 10 eight. Does that match the fundamentals . Greater than 20 times forward pe, as you note last year earnings fell by double digits. They are expected to fall for the Fourth Quarter and the First Quarter of 2020. By the end of the year, analysts are looking for double digits growth up for tech and the chips. For the chips, the first half of the year is difficult. Speaking of getting ahead of ourselves, i want to show you a chart here. Another day a
Very, very first new years eve celebration that is we are going to get throughout the hour on mornings with maria. Weve got a big show this morning, joining the conversation michael, Founder Michael lee, market analyst francis and real clear politics cofounder president tom bevin. Happy new year, guys. Happy new year. Cheryl weve had a phenomenal year. Typically when the market moves people get hesitant, just thoughts to stay positive in 2020, so in the summer of 2018 the market actually had roughly 10 below here, going off into the end of 2018, i think that spells well for 2020, this could really keep going, its been a good decade for stocks. Cheryl francis a lot to watch obviously for you this year, its been a blockbuster year. Its been a blockbuster, whats important is the catalyst that kept the market going, we kept getting news on the front and the fed keeps injecting money into the system which is good for equities. Cheryl i think its 2020, though. For sure. We have politics happ
Anymore. A lot of Global Markets are closed or for boxing day. Uk, germany, france, australia, italy and hong kong. I say it every year. Boxing day has nothing to do with boxing as a sport as a child, i always thought that u. S. Futures, we have some green arrows dow looks like it would open up about 30 points higher 10year note opening about 1. 97. New this morning, china says it is in close touch with the United States on signing a phase one trade deal both sides are 12i8 going through necessary procedures before signing despite progress on trade, tensions remain. Meantime, saying the phase one trade deal is, quote, an enormous step in the right direction. It is coming. It is coming it is done in your mind what we are going to get is what weve gotten. Phase two, i wouldnt think about it again like ever, ever no. Let it go. Gone for good oregon for the election . I think you need a change in leadership of china before we see anything significant even if trump wins in november of 2020,
Welcome to squawk alley. Im jon fortt. David faber and Morgan Brennan are here a lot to get to today, including winners and losers from last nights Golden Globes. Well begin with todays market drop, though stocks are off the lows, actually at the highs of the session. Bob pisani has whats driving todays down swing and maybe swing a little back up more than a little. We almost went positive a few moments ago on the s p 500 heres the intraday. This is similar to friday. The low print but v was there at the open friday we tended to have faded into the middle of the day, looked more like that. Well see if the same pattern happens. For the moment, we touch even going on the s p ill show you the sectors here cyclicals tend to be most affected energy on the upside today mostly the big integrated companies that are up, shale down, e banks down but off the lows same with transports not a good day for the transports overall retail is down, but again, off the lows thats the general pattern you se