Me. 13 for the s p. 38 for the nasdaq. Thats. 66 . Russell 2000 down more than 1 . Lets check in with simon at the big board. I mean it is the Energy Stocks that are taking it on the chin here at the moment. That sector down almost 2 trading just above 45 a barrel on crude under a huge amount of pressure. Transocean, southwestern, chesapeake, chevron, many of those are not adjusting correction but arguably in a bear market. Bob pisani is here to talk us through the action. Slower Global Growth in china, slower Global Growth in latin america, particularly brazil. The commodities complex, new lows in exxon, new lows in chevron. Thats why the dow is underperforming the rest of the market. Conocophillips, devon energy, a halfadozen big energy names again at 52week lows. Were seeing some new lows in other commodity stocks. Groups. Ael key with a is at a 52week low. Freeport mcmoran in the copper area also at a 52week low. Another reason that were having a problem is big global companies, th
To top headlines. To bealk of a Briefing Held at 10 15 on august 13. I believe that is into their morning as well tomorrow morning. Lets get you caught up on what occurred overnight. Here is julie hyman. Chinas decision is rattling market today. Theks are down around world, and futures in the u. S. Indicate u. S. Stocks will be lower at the open as well. Commodities also declining. Hsbcs senior economic adviser told bloomberg we could see this as a bit of a payback. China is in a difficult position because every other country in the world has devalued against china. Julie emergingmarket stocks have some to their lowest levels since 2011. They are now in a bear market, down 22 since hitting a peak last december. The price of oil is bouncing back from lowes. From lows. It has come back a little bit. A little under 44 per barrel. Prices are down more than 18 this year. Hillary clinton has agreed to turn over the private email server she used while secretary of state. It tos told aides to
Also good news on the cholesterolfighting front. And has the perct car been finally created . All of those things and lots, lots more today. Tyler is out today once again but Kayla Tausche joins me live at the nyse with bob pisani. Hi there, kayla. Hey, mandy, great to be here. We are watching the markets in rally mode. Mandy ran through just how historic the gains were seeing are. Put this in perspective. Just the fact that the dow has risen, what, 1,000 points in two days . 1,000 points in a day and a half. The s p is 100 points. Youre seeing some numbers youre not going to likely see very, very often. I havent seen them. Ive been here a long time. Look at the s p 500 melting up here chasing stocks here. Weve got to get them because theyre running away from us. Thats what it looks like. Its been a long week. But let me show you the markets today. Were getting strange numbers again. Heavy volume but not as heavy as the last few days. The volatilitys been dropping. Look at this breadth
Gold all muted but anything goes as abuse headlines crossbreed david there are so many. The morning brief. But anything goes across of the headlines. David bank there are so many. At 2 00, the Federal Reserve will release its beige book looking at the u. S. Economy. An update of headlines outside of the Business World with taylor riggs. Taylor starting with a hurricane, the most powerful to form in the Atlantic Ocean is preparing to hit florida. Passedricane of irma over the caribbean street it could hit south florida this weekend. A worstcase scenario have it destroyed so much property that damages would surpass Hurricane Katrina a that was the most expensive Natural Disaster in u. S. History. The south korean president is seeking Vladimir Putins help for north korea and they met and not stop,rth korea is the situation could turn uncontrollable. Putin said there is no need to back a north korea in a corner. President trump has left a door open for little bit to end daca. Last night co
Looking at the spread, the two tens, you would thought it would be flatter, it is steeper. Up 82 basis points and getting a by. 2 percent, longest losing streak for the index since may of 2016, the dollar regains strength. David yesterday Federal Reserve chair janet yellen spoke out saying although she still thought inflation was on its way, the model the fed has been using may be off. Shortfall and inflation is a mystery. As of february of this year, inflation was running just under 2 . Core inflation and then we have had a string of several months in which inflation was unexpectedly low. Dan turuollo has worked alongside janet yellen. Great to have you here. Daniel thank you, david. It has been clear for some time that there is not a working model that on a meeting to meeting basis can give any sort of the size guidance to the fed as to where inflation is headed. People understand directionally that removal of slack from the labor market and the economy more generally will stop pushi