State no cut was coming afterwards a couple called the rate cut a close call and two, who we know, they didnt want to cut at all. The fed said the cut was due to trade war and to take out insurance against potential Downside Risks there were concerns. There was concern with brexit and trade at the time. There was concern that exports would spill into the labor markets and consumer spending. Theyre okay with it not okay with it, but theyre not all that concerned with weakness and manufacturing. They thought that would threaten the economic expansion several said the rate cut was better aligned by the way with the yield curve. There was some Financial Stability concerns in the meeting. Highly levels of corporate debt. No additional detail on what it might be they discussed options what they might do in the next crisis. And potentially Interest Rate caps nothing was decided in any of those regards. Of course, the staff also presented plans on how to solve the repoe market problem, includi
Shazam is this an Artificial Intelligence play . Were going to look. Whats to buy ahead of tax reform debate on whether Airline Stocks could be the big beneficiaries of any tax bill. But we do start with the story thats taken wall street, main street, any street, frankly, by storm, and that is bitcoin. Bitcoin futures popping in their first full day of trading on the cboe Cnbcs Bob Pisani joining us with that story. Bob, everybody is talking about it. It is and its finally happened the good thing is at least trading has happened and relatively orderly we passed 18,000, folks. Bitcoin futures opened 6 00 last night eastern time, 15,000, moved up very, very quickly. Here you see its over 18,000. So its been small, 3,600 contracts, figure the math here. 17,000 p 17,000, 18,000 about 60 million. Thats not a lot but its a start at least heres whats important. Lets go over what exactly a futures contract is, why this is so important first of all, its just agreement to buy or sell a commodity
Shanghai was off by 1. 25 . If you look at whats been happening with some early trading, green arrows for the most part. But youre looking at fractional advances the dax is up, just barely cac up by a quarter percent, so is the ftse. Look at crude oil. Up by 1. 1 yesterday settling just below 58 a barrel that was the highest level in almost 32 weeks. Today were at 58. 36 that was the 67th or 68th new high yesterday of the year yeah. Could be another one tomorrow. Andrew is finally coming to the train. Youre getting on the train left the station. Were on the bitcoin train now that train maybe left a long time ago where is the train that left newark he said sao paolo. They offloaded it on to a boat, crossed the water heading to the south pole you did cop to that yesterday. Im i wish i didnt have to but i do. Calling the trump trade and Everything Else i do. A number of big stories to tell you about. We are continuing to follow a developing story out of Southern California crews are despe
The market rally lets get to dom chu to give us a broader picture of what were seeing here. The whoopwhoops are happening all over the place, not just on the floor but across wall street and investing america because we are, again, at record highs for the overall stock market the best start to a year for the s p 500 since 2003 back then, it gained around 6 were at that 4. 5 , maybe close to 5 at this point. Check this out the s p 500 over the past week is up 1. 5 industrials, consumer discretionary, energy, financials, cyclical, economically sensitive the ones who do good in a rising economy. Those sectors are outperforming. Meanwhile, Interest Ratesensitive sectors like real estate, telecom, utilities, Consumer Staples are the market underperformers. As for the best performing stocks in the s p 500 and the worst ones, check this out because we have at least Seagate Technologies showing its going to be the best er performing stock so far on the Dow Jones Industrial average side, no sur
One of the big ripple effects is utilities. Take a look at this chart behind me were seeing the death cross thats what some technicians call it when the shorter term 50day moving average of a stock or etf falls below longer term trend, the 200day average were seeing it with the excel, the spdr sector utility, xlu this does not portend bad things but something to Pay Attention to its not the only that were keeping an eye on. Were seeing some action play out in some parts of the market. Namely in the real estate stocks the vanguard reit index is sinking down to multiyear lows. As we take a look at whats happening with this, its already in correction territory, off about 10 plus the highs we saw a couple years ago well take a look at another part thats perhaps a brighter spot while all these guys are making these multiyear lows, one thats not is the consumer staple sector. This is actually just a stones throw away from alltime highs would you believe it or not, more than half of the index