The move in Interest Rates, the impact, if any, it could have on that tech trade. Josh, ten year, 78 basis points, 30year highest since june is this going to be a big risk for that growth trade . Im not sure. It certainly could be. But heres the way that i think we want to think about this. If you go back to february of 2018, that is when the curve peaked, right . Then we had several scarce where we thould we would have a thought we would have a yield curve above those levels but were not there and every time we gotten to that level weve had a big fade what i do think is happening now that is notable, theres a big catchup under way, Small Cap Value is on fire Small Cap Value of 5. 5 over the last three days and large cap tech is not giving up much while thats happening it possible you could have both things working at once i still think that if you get the big cap tech names hanging up there toward highs and not serving as a source of cash and then you get this big catchup trade in the
Suffering the biggest oneday loss in two years. The dow dropping 3. 5 . The worst day since february 8, 2018 the s p losing 3. 4 . The worst day since february 5, 2018 about 5 off the record intraday highs. This morning, futures trying to pull off a bit of a turnaround after a sell off for the dow we could see the dow open up by about 80 points. The s p up by 9 points and the nasdaq up by 50. It is not much but something well see can stick in this session. Bouncing back from record points in those moves, 10year note drifi dr drifting lower twoyear note yields 1. 45 gold giving back a chunk of its gains. Currently 1,653. 40 thats comex index it is a run towards sevenyear highs. The market message is stocks tend to bounce back quickly from days like yesterday. There have been 18 drops on mondays s p 500 and the following day has seen an average gain of 1 well see if those green arrows stick. Bouncing back with a big picture in asia. Remember, tokyo was the focus. The hang seng up about.
Heading our way in an hour and crude inventories not long after that new record at the open but the selloff for tech stocks continues to weigh on the nasdaq and s p. Jack ma, the push to brick and mortar and why jeff bezos struggled in the Chinese Market. A turning point for snap, a key 2018 outlook upgrade shares are up in the premarket. Futures are pointing to a higher open after the record setting day for the dow and s p offset by the sell offin Technology Microsoft and amazon had the biggest impact on the nasdaq and optimism surrounding tax reform. We did manage to get the vote in the house to go to conference with a little bit of drama last night. Jim, you said the reversal yesterday, doesnt bode well well, look, i was doing my show and you posted a little squib about reversal and i did not realize how serious reversal was obviously its more serious for the but i find reversals catch people out of position when youre out of position, you scramble and start reaching for things you
Your money as power lunch starts right now welcome to power lunch. Im michelle carusocabrera. Todays gains pushing the dow positive for the month all s p 500 sectors, 11 of them now, are up. Tech financials leading the way. Energy, utilities, they are lagging. The chip space is a notable rally. Nvidia, micron, advanced micro they are up. Im tyler mathisen. We begin with the fallout in charlottesville. President trump speaking a few moments ago condemning the violence and specifically describing hate groups like neonazis, White Supremacists and the kkk, quote, repugnant to everything we hold dear. This came after a member of his White House Council stepped down from the Group Following the protest on saturday. Eamon javers is at the white house and Kayla Tausche is in virginia eamon, you first. The president did what he was criticized three days ago for not doing on saturday. Specifically naming the kkk and neonazis as the problem over the weekend in charlottesville heres what the presi
What stocks staen to benefit from tax reform . Goldman sachs has a basket of names set to outperform. Elon musk is trolling his haters on twitter after the companys stock surge pushed its market cap above ford for the first time. The president scheduled to hold a town hall meeting with 50 Business Leaders. Among those slated the ceo of citigroup, blackstone, mast ecard and jetblue, it he will focus on improving the Business Climate discussions about infrastructure and jobs. Beth comstock from ge, tom farley from the nyse, john paulson, steve roth, largely new yorkbased. Jim . Got some wall people there and private equity, mike corbett obviously someone who would be able to talk about deregulation. Yesterday theres full scale assault halftime i think the deregulation is so important. Please, with enit comes to the banks, its pretty much everything. Maybe this is back on track. Maybe this is what was doing well. Now there are a lot of people who feel that what happened with health care w