The nasdaq has actually been leading today. That is a bit of a switch. Technology has been going in the same direction as other averages but an exaggerated move. A different scenario memo we have seen recently. The s p and dow remain lower and they remain lower than oil prices peered yesterday, we saw stocks drifting lower even as oil held up well. A different story today. If you look at oil, were seeing it down 4 . It bounced off the bottom, but still below 30 a barrel. Oil stocks are weighing on the major averages. We are seeing a lot of big percentage declines among the energy producers. Southwestern Energy Company particular, down 14 . Murphy oil, devon energy, a lot of these Energy Companies have come out in the past week or past couple of weeks talking about various ways to raise cash, whether it is sharing selling shares, cutting dividends. That has been weighing on them, also. Alix a lot of these guys reporting earnings next week like southwestern energy. Aside from oil, we had
From the new York Auto Show are coming to us. We talked to the chief executive of cadillac about his plans to compete with premium names like bmw and audi. Lets head straight to the markets where Bloombergs Julie Hyman has the latest. Julie stocks pulling back today, not huge declines, but it does mean we are now negative on the year. If you look at the yeartodate returns, we had that brief period of gains on the dow, we are still negative and the nasdaq more deeply in the red. It has consistently been the laggards. In terms of what is dragging, it is the banks. We had a lot of investors and traders say if there is going to be a catalyst for u. S. Stocks, it could be earning season. We will hear from Many Companies starting over the next couple of weeks, but banks are among the first to report and some of the commentary is not very positive. Ubs is rating wells fargo a cell. Sell. Andysts cite high valuation for u. S. Banks, it is the perfect storm for firstquarter earnings. Earnings w
Month and the quarter, lets head over to the markets desk where Bloombergs Julie Hyman is there. Julie it has been an eventful quarter, the shaped quarter with stocks falling initially through midfebruary and then rebounding sharply through now. At the moment, the s p and the to little change, the dow the down side, yeartodate, as we now the s p and dow have solidified their gains of the s p getting a little closer to 1 gain, the nasdaq remains the lag guardian the year even as large cap tech has been part of the rebound story thus far. Look at the monthly performance, this looks at the monthly performance of the s p 500. Were looking at the biggest monthly jump since october, but also the second largest month that we have seen going back to the end of 2011. This magnitude of an increase is relatively unusual. Now, that said, the increase that we have seen in stocks has been on relatively low volume and, of course, on very low volatility. We heard talk of that in the last hour. The yea
Gainingand nasdaq steam. Energy stock contributing to the game. Particularly in the s p 500. We do see Oil Prices Rising today. Really turning around on a things. F different one, weekly inventory but also numbers for oil prices as production fell for the sixth consecutive week. Some moreve commentary coming from iran that renewal ofould see a some kind of talks of production freeze. Today. Ces up by 4 that is whats really contributing to those gains in Energy Stocks as well. At the bloomberg. This is volume by the various groups in the s p. Groups see most of the are seeing an uptick in volume. For some technicians its a positive sign when you have an rising. Nd Volume Telecom volumes up. Because of the gains weve seen, for the major averages that each seen all year. At the the one year look major averages. The dow, the s p are turning past 12 months. Both of them are approaching records once again. Theyre a little more than one percent away from the record. Nasdaq not quite making th
As hr practices. Summer suedck last the vc firm Kleiner Perkins and cal field. She said she was preyed on by male colleagues and denied a promotion when she complained about it. Now, she is starting her own consultancy firm. She is starting a tech diversity advocacy group. Advising companies on hiring hr pay practices. After she left Kleiner Perkins, she was the interim ceo of credit. She is also on the board of clipboard and lehigh technologies and is now starting her own consultancy shop. Theyll miss an interview with the former Kleiner Perkins partner ellen pao about her new advocacy venture. That is one year after losing her discrimination lawsuit against the legendary the sea firm. Catch that today at 3 00 p. M. Eastern. We are halfway through a pretty brutal trading day. I want to head to the markets desk where Bloombergs Julie Hyman has the latest. It started in some areas of asia , spread to europe, european banks, and now spreading to the u. S. Economic orders we got in asia,