Capitulation. I think investors are trying to figure out when does it come. How do you know . Abigail you feel the panic and fear. Highyield is selling off , credit selling off. We are seeing the haven bid. The other thing you would want is that capitulation bottom. Technically, we are nowhere close to the bottom, so we could see days and weeks of this kind of relentless selling, very reminiscent of 2008. Take a look at the Energy Sector, down more than 15 , its worst day ever going all the way back. That is the degree of the fear, the uncertainty and the selling of an on today. David you are a technical person. Give me an example of resistance on the s p. Abigail we are looking more at support, which means we want to see where the buyers are stepping up. You want to go to a weekly chart on todays open. We are well through the 100 week moving average, which means we will probably find support down. If we are lucky, that is at 2640 , but i would make a case for 3300. When you have bonds
Continuing a trend that shows so far, university of michigan sentiment, other surveys were doing okay and things are going okay. In the middle of all of that, you have a report out of fedex saying were not doing okay. Telegraphing problems because of the trade war. The trade war is one of the big reasons why the fed will supposedly move today. It is all in what the fed lays out after it makes its move. The consensus seems to coalesce out of quarterpoint cut to Interest Rates. Would bring overnight lending rate from 1. 75 rate to 2 , from around 2. 25 we are right now. That can jostle wildly. Lets get the read on all of that Charles Payne, thank you for helping out on your world yesterday on fox news. What do you expect first off . 25 basis point rate cut in part because the wall street expects it, to such a degree yeah it is. If you think a trump tweet is tough, wall street selloff of several hundred points. I mean they, they really have the market cornered when it comes to temper tant
Le we have the editor of the book report thanks for joining us were going to check on markets see how were set up heres the futures dow down 15, nasdaq down 20. S p down 5 coming off the huge rally to close on friday, another strong week of gains for wall street. How about the tenyear, 2. 65 last week. We begin the week at over 2. 7. Did you see that i think the futures are down. Thats a sticker shock to people tenyear at 2. 72. 30year, just a hair under 3 fiveyear under 2. 5 twoyear, 2. 15 wow. Lets get you caught up with stories were watching perhaps the biggest over the weekend, saudi arabias prince alwaleed has been freed. He was detained. We talked about it for the past two months with the corruption crackdown. Several other officials and saudi royals were rounded up and they were at whats known as the ritz prison. Youll get to see it the ritz prison and alwaleed described it as a misunderstanding there are no topics its just a misunderstanding its a key position we had it was a d
Major funding for the pbs newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. And the william and flora hewlett foundation, helping people build immeasurably better lives. And with the ongoing support of these institutions and individuals. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff thousands of firefighters in california looked to the forecast today, for relief from a scourge of wildfires. Lower temperatures and higher humidity helped crews trying to contain the biggest fire. Its burning near lower lake 100 miles north of san francisco. Thousands of people have been warned to evacuate. Well have a full report after the news summary. Ifill the attorney general of texas, ken paxton, has been formally charged with securities fraud. The tea Party Conservative allegedly encouraged people to invest in a tech startup without telling
Major funding for the pbs newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. And the william and flora hewlett foundation, helping people build immeasurably better lives. And with the ongoing support of these institutions and individuals. This program was made possible by the corporation for public broadcasting. And by contributions to your pbs station from viewers like you. Thank you. Woodruff thousands of firefighters in california looked to the forecast today, for relief from a scourge of wildfires. Lower temperatures and higher humidity helped crews trying to contain the biggest fire. Its burning near lower lake 100 miles north of San Francisco. Thousands of people have been warned to evacuate. Well have a full report after the news summary. Ifill the attorney general of texas, ken paxton, has been formally charged with securities fraud. The tea Party Conservative allegedly encouraged people to invest in a tech startup without telling