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Schools closed live on the ground with the very latest power lunch starts right now thanks, mel. Welcome back im Brian Sullivan dow hitting session highs up 110 points s p 500 trying to make a fourday losing streak, industrials, energy and tech leading Consumer Staples and utilities lagging. Individual companies to watch include lululemon. Shares soaring beating estimates, boosting outlook. Dollar general a nice bump topping expectations and check this ut. Ge up 2 unfortunately, because the struggling industrial giant saying it will lay offanother 12,000 people. This tile, tyler, in its power division. Thank you, brian. Bitcoin, bitcoin, bitcoin. A rhyme i could make but i wont. Wall street and main street getting caught up in the frenzy. Bitcoin, hitting 16,000. 16,000 for the first time today. Then just moments later, 17,000. And then 18,000. Then 19,000 on coin banks. Right now, on somebodys base, its 15,360. Mr. Pus pisani at home base. Keeps going up and up, firms involved in futu
That that ratio will continue to rise in an unsustainable fashion , so the addition to the debt taking what is already a significant problem and making it worse is, it is of concern to me and i think it does suggest that in some future downturn which, well, could occur just for whatever reason, the amount of fiscal space that would exist for fiscal policy to play an active role may well be limited. Sam and then victoria. Sam flemming. A couple of longer term questions. First of all midway through the year you talked about issues of whether inflation targets might need to be raised and a lot more debate in the fed system since this. It may not be an imminent issue but is it something the fed should discuss over the coming years some sort of change to the target and second of all the amount of stimulus tools that the fed may have at its disposal in the next downturn strikes are fairly limit limited. One of the incoming governors, Marvin Goodfriend talked about the merits of negative Inte
Abigail . Another roller coaster ride, earlier up more than 1 , and then down more than 1 . Right now we are down about 1 . The volatility we have seen all we continue. This started last week, major averages put in their worst Weekly Performance since january 2016, extending into this week. Lets see this fiveday chart of the doubt. This is monday, where stocks were holding in, and then all of a sudden at the lows, down 1600 points. Buy the did action, frenzied buying, resulting in wednesday being flat. Now we are whipsawed, but we just put in a lower low. That tells us the sellers are in control. Year, we had that big rally for the major averages, climbing , climbing, a slow melt up. We have seen lots of small swings on an intraday basis. February, look at these massive moves for the doubt. That continues to build. Volatility breeds volatility, so this suggests we are likely to see more of the same. In terms of the big names dragging, we are looking at highquality companies, boeing, 3m
Yields our top story is the u. S. Stock market officially falling into correction territory in yesterdays session. The dow was down by 1033 points. Thats a huge drop weve seen one earlier this week as a result were on pace for the worst week since 2008. The nasdaq was off by 275 points since the slide began back on january 26th, nearly 2 2. 5 trillion in market value has been wiped out from the s p 500. When you look at Global Markets they lost 5 5. 2 trillion over te last two weeks well, you add that up and you look at the u. S. Equity futures, the good news is that things are stabilizing a bit and even turning around after that big decline. Thats not what we saw earlier in the week. Right now it looks like the dow is indicated up by 270 points. If we were to open here, the s p would open up by 33. The selloff we saw yesterday continued in asia. The nikkei was down by 2. 3 . The hang seng was down by more than 3 . The shanghai was down by 4 . European equities in some of the early tra