Last ten minutes or so and finally, optimism around the possibility of new stimulus. All of that helping the market up about 1 on the s p 500 as we stand. Coming up on todays show, big moves in the banks space and Goldman Sachs is bringing workers back to the office well talk about that with the president and ceo john waldron and Michael Novogratz will lay out the risks he sees. Mike santoli is tracking the Market Action and a pair of key faang names holding their annual meetings as tech underperforms today and mike, start us off with the Broader Market and the action were seeing right now. Yeah, so weve been talking about this rotational activity away from the big growth winners into all other areas of the market that are more sickly call and smaller. It is really happening in a benign way so far. Sometimes the baton can get dropped in the handoff but it is towards its highs so kind of stalled out at this area, but below the surface, equal weighted is up close to 5 so it is kind of st
All out on the hardhit travel giant. Its time to risk less to make more options action starts now. Lets get right to it. After a volatile day of trading, the dow, s p and nasdaq all managing to close the day in the green, despite the move higher all three major indices posting their worst week since march much of todays trading activity came in response to the retail Sales Numbers down more than 16 in april thats nearly double the decline of marchs retail numbers. So, mike, with all of this volatility in stocks, what were you seeing in the options pit . Yeah. So this is a very interesting situation we have here normally, in my professional experience anyway, when we have these types of periods like the one that weve been going through we have basically some form of a market crisis. We see elevated volatility and we see elevated and implied volatility and we reached some sort of a zenith and then it starts to fall off and you take about 90 days or so and you see what the market is imply
Its time to risk less to make more options action starts now. Lets get right to it. After a volatile day of trading, the dow, s p and nasdaq all managing to close the day in the green, despite the move higher all three major indices posting their worst week since march much of todays trading activity came in response to the retail Sales Numbers down more than 16 in april thats nearly double the decline of marchs retail numbers. So, mike, with all of this volatility in stocks, what were you seeing in the options pit . Yeah. So this is a very interesting situation we have here normally, in my professional experience anyway, when we have these types of periods like the one that weve been going through we have basically some form of a market crisis. We see elevated volatility and we see elevated and implied volatility and we reached some sort of a zenith and then it starts to fall off and you take about 90 days or so and you see what the Options Market is implying and normally in this situ
Federal reserve vice chairman speaking in washington to the National Association for business economics, saying that the fed is close log monitoring the coronavirus. So maybe a slightly different tone than last week. He said it will be a noticeable impact on china in the First Quarter, and that could spill over to the rest of the global economy. Too soon to speculation on the size or persistence of those global effects the probability of rate cuts reaching alltime highs for the individual contracts, april, a first duty now at 63 , it is probability of a second customer, and now over to 50 for a third cut in december for the first time, so the majority of position in the mart right for you, sara, going along with a huge decline in the tenyear to alltime lows and the downdraft in the stock market is now for there to be three rate cuts this year from the federal reserve. I know we parse every word from every fed official. Is the bottom line here that the fed is maybe storming to warm to t
Clearly, coronavirus is not impacting future sales all that much at the moment. , data as well, storage center, those kind of chips doing well. That is having a halo effect on some other chips. A couple of them are lower as well. There is some treasury buying along with the equities bounce, so we have to take note of that. 7 . 10 year yield at 1. 5 we got Consumer Confidence data above 100 today from the university of michigan. Preliminary february data increasing, and revisions to december. That said, retail sales didnt exactly reflect increased confidence. They were pretty stagnant, if not a little disappointing. Guy here in europe, stocks heading back to flat. We bounced off session lows. Volume is ok. We are going into a long weekend in the United States. Do you want to carry positions over that weekend . Eurodollar positive, but only just. Data out of germany pretty weak today. While we are seeing some commodities trading higher today, you always want to Pay Attention to what is h