The grind t higheray was quiet but strong. Here are the closing numbers. Th Dow Jones Industrial average rose 227 points. To 27137. The nasdaq was up 85 and the s p 500 added 21. But there is a lot more tohe market than the numbers suggest. A close look under the hood showsig changes taking place and money is starting to flow intoectors that investors have been avoiding for a while. Bob pisani at the new york stock exchange. A lot of talk about a great rotation taking place. But what exactly are we rotating out of andinto . There is confusion about different ways to slis and dies the mechanic. Lets try to sort out some of the differences. First, cyclical verses defensive stock. Since bond yield bottomed last weeks. Checkically sense i have like banks, transportation stocks, energy, retail have all outperformed. These are call cyclicals because they tend to better when the Global Economy is imoving. Nef lagged most of the year on concerns that Global Growth slows. At the same time defen
Points after a rally that saw all of the major averages up do you up by 227 points. S p up by 21 nasdaq up about a percent at 85 points a lot of people muling through and looking at some deescalation it still continued but let up a little bit trade looks like a sidelined issue or better. Much much lower but rising that made people feel like they didnt have enough exposure. The dow is up around 2,000. Russell 2000 is up first it is a catch up and then lets see how far we can stretch it overnight, with the headlines of the latest concessions, the s p futures shot up. We are up six or so percent. If we wanted to, we couldnt make new lows or deals it is fairly far away. You are in this zone. You have a cushion below you see the 10year 1. 726 it is good. It is good it is good always a good side, bad side of things. In asia, we did see the president tweeting about postponing tariffs sang high composite ended up in europe, if you look at what is happening there, right now, markets have barely
Russell 2000 up by. 78 . West texas at 53. 13 up 1. 48 or nearly 3 . The 10year note theres the yield at 2. 28 . The price is lower, the yield a little bit higher. Mandy drury today on the floor of the nyse with bob pisani. Seems like this has been where all the actions been this week, ty. Seemed like the likely place to come down to. Bob, fantastic job yesterday covering the big event. But in terms of todays action, we opened up with big volume. 249 to the up side. Why are we losing steam here . I think there is some realization that greece is still very iffy and china, the gains yesterday, theres a lot of companies that respect even trading there. Some people are saying we dont know whats going on in china. The bottom line is were keying off of greece and china. We did have very smooth opening at the New York Stock Exchange. The nyse said that outage was caused by a Software Rollout that caused Communications Issues between customers. Talk about that later. But it was a strong open a
Decision to is suspend brady be upheld. The judge recommended two sides settle dispute out of court. Game of thrones will likely continue for three more seasons. Hbo executives planned to run eight seasons. The smash hit had 20 Million Viewers last season and received an astounding 24 emmy nominations. Lets get to the top story, exxon and chevron both releasing their Second Quarter. Here is how tough it has been on the big firms. Exxon expected to report a net income of 1. 12 a share. In the same quarter last year they reported earnings of 2. 05 because of cut in price of oil. 150,000 energy jobs have been cut since the fall according to phil nine, price futures group. He joins me from the cme. This week we had more layoffs and it continues phil. Where are we in the cycle of the downturn . I think it is almost a panic with big Energy Companies. Really, maria, a lot of these layoffs will be accelerated because of what happened in the month of july. Early july there was a little bit of o
Nearly 200 points. The dow, which was the worst performer yesterday, has been leading gains today. Value across the board, a broadbased rally. Materials and Energy Leading as we have underlying commodities rallying. Industrials, financials, consumer discretionary, technology, all those groups up by at least 1 in todays session. If you look at energy stocks, some of the percentage standards, crude oil up by more than 2 . Concerns about supply disruptions in libya and nigeria. Thehwestern is one of biggest percentage gains today. Financials are doing well. They are raising as we see little bit of a bump up in treasuries to not a big one, but enough to see an upsurge in the financials. Bank of america leading percentagewise. Broadbased rallies. Any hidden movers . Julie agriculture. Alix steel would not say they are hidden, because she was excited about the usda Crop Forecast for the globe. The indication is that the global glut will not be as bad as feared. , potash, agrithem all trading