Work with freelancers, fiber. Im Zachary Cohen and washington. And this cnn hello and welcome everyone. Im michael holmes. Appreciate your Company Coming up here on cm man newsroom. A rare extreme Geomagnetic Storm caused by massive solar flares creating a dazzling celestial light show across much of the world so what does that mean for things like satellites, power grids, baps your cell phone will hear from the experts. And were sharing images from social media are our friends and families viewers like you now, a powerful and historic Geomagnetic Storm happening right now Around The World, the storm classified as extreme level five out of five phenomenon that last occurred more than 20 years ago. And its causing the northern and Southern Lights to dazzle many places that rarely, if ever, get to see them, have a look at the scene here in atlanta, georgia, in the southern us are short time ago parts of the midwest and even Northern California have high chances of seeing the aurora, the
Lets look at what else you talked about, retail. It is black friday. The Holiday Shopping season for 2017 is officially off. Reports are suggesting it is very strong. Macys, kohls, gap seeing gains for all retailers. Reports relative to yesterday, strong as of 5 00 p. M. Yesterday. Spending on a yearoveryear basis of 17 . 1. 52 billionght, has been spent ahead of black friday even starting. A very solid start for the Holiday Shopping season. Some are saying the best in three years. Now taking into the weekly moves, lets look at a chart in the bloomberg. 5917. Are we are looking at the weekly moves to the major averages, and an orange the russell 2000. We had a long stretch of weekly gains for the dow and the s p 500, eight in a row. Russell 2000, smallcap index and awards have been down a little bit. Thinly actually have the major averages down on a weekly basis for two weeks in a row. The dow and s p 500, the first time that happened since august. We have a tech heavy nasdaq up. Highe
Good morning a warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Lets get straight to the Global Market picture comes off a flat day yesterday the dow slightly higher, the nasdaq and s p slightly lower. Essentially flat this morning looking better. We are called higher more meaningfully than this time yesterday. The dow up 38 points s p 3. The nasdaq 6 or 7 points tenyear treasury note yields have stuck around the 2. 3 level on the tenyear still there, 2. 32. The flattening of the yield curve has paused over the last week or so its still continuing to a broader medium term theme, but in the shortterm not Much Movement last week was a low volume week because of the thanksgiving holiday. Lets look at markets around the rest of the world. Shanghai having a bounce back. Theres been weakness in china lately the shenzhen index bounced back over 1 shanghai itself up over a third of a percent elsewhere softer as you can see, but not significant. We got comments out of certain bank
Just a moment. And bond yields rose t a near fouryear high and that was enough to batter stocks. Falling the most since august. The Dow Jones Industrial averag dropped362 points to 26,076. The nasdaq was off 64. S p 500 was down 31. Babb pass any has more on todays selloff from the new york stock he can change. The steep selloff continued today on wall street bringing the dow down 4100s after session lows. We havent seen that for a long time. Energy sem i conductors, industrials, key economic benchmarks wdae all down toy. Whats going on . Er there are s risks to the market right now. Call it a stew. Ri ng Interest Rates continue to be a big story. Bond yields are hovering aund fouryear highs. And with a potentially more aggressivehi Federal Reserve year, investors are starting to get a little bit nervous. Second there is the earngs question. Some would argue that the acceleration in Earnings Growth thatowered the markets higher will slow down the market next year. Finally sentiment lel
Well see if the fed numbers have any effect. In our road map this morning. Tesla slapped with a downgrade on valuation. Well hear about the companys future from the ceo. Microsoft set to cut more jobs. And apple watch sales plunge 90 . Well run through some of those numbers. First, futures are up sharply. Steps by chinese officials to stabilize markets and restore Investor Confidence failing to start the slide. A lot of the trading, brokerages people are obviously upset. Companies are being asked to buy their own shares in the national interest. Its getting interesting. I think that its terrible. I think that i want to be really clear about this because panic is a bad, not a strategy. Someone was saying on twitter, is it a falling knife . This is 100 signwayteinways coming at you. And this market is a little bit bigger than we thought. Its only 40 of the gdp but there are some horrifying statistics and these numbers are all phony. 74 of the stocks arent even trading. You cant get out o