Earnings season when theres too much to keep track of and the action seems to stop making sense. The dow gained 46, the s p advanced and the nasdaq climbed up, you have every right to be extremely frustrated stocks that should be going up are going down stocks that should be down are going up human sacrifice, dogs and cats are living together, mass hysteria theres a method to that markets madness you need to understand it. Otherwise, youll have no idea whatsing if on whats going on a close investor is a bad investor so let me walk through some of the craziest examples. Im going to start with caterpillar. Caterpillar, the stock huge shortfall in response of course the stock correctly plunged 6 in Early Morning trading. Well, i thought it was a bit of an overreaction, nothing unusual about a stock going down in disappointing numbers is there its what happens next thats should we take our cue from this hard to explain. Cat down 6 and slowly rebounded. If you saw it near the low, this is a
Manufacturing data this morning. Weve got full Team Coverage of todays selloff bob pisani is covering the markets reaction to that weak manufacturing data Bertha Coombs is watching the movers at the nasdaq Rick Santelli is looking at todays action in the bond market lets check in, though, where we stand. We are down 281, the low of the session on the dow was down 347. A slight improvement in the last 30 or 40 minutes or so but a significant fall from where we opened up 129 points or so lets check in with steve grasso from Stuart Frankel whos joining for the full hour. Steve, what is this . Recession fears again or is it justified to see this slippage you know, its funny, you know, im tempted to just jump onboard and say its all recession fears. And then you have the first day of the month and then you have impeachment. And then you have trade. But definitely, this is recession fears, but i wouldnt read into it as much as Everyone Wants to you have the first day of the trading month, th
Instead to come to a larks itself and the surrounding area to carry out the prayers the main prayers for eat have been delayed from sunrise to the 2nd pres of the day at 730 local time in the morning presumably to maximize the number of people who can attend them and also that coincides with the time that usually the site would be open from the other side to non muslims now there are right wing and religious nationalist jewish groups that are calling for access on this day despite the fact its a major it was them 1st or because it also falls on the same day that jews mark to shut down of that as a commemoration of the falling of the 1st and 2nd temples and the jewish exile the background to this is that there has been a wide ranging political effort by the right wing in israel and the religious nationalists to get more access to x. The mosque compound site known as the temple mount to jews a lot of what happens next will depend on the actions of Israeli Security forces and police there
Especially during the later obama years ok what does that leave russian and chinese influence. Well china is deeply deeply involved in the issue because china as your correspondent was saying is indeed the 3rd party and theres an area of the former Princely State of german kashmir that is now held by china called the outside chin and china has deep Strategic Interests in the region because of unsettled border questions with india in the himalayas both on the east and in the west in kashmir. At the same time china has some limitations in terms of challenging the domestic politics of other countries because it has a very strong sovereignty norm and really rejects criticisms of other countries about the treatment of minorities in areas like to batten sinchon sinchon so there is with china i think a little bit of. Choice to move it towards more neutral International Fora like the Un Security Council which is in fact what pakistan is doing to with russia its not as clear because i think rus
A wide ranging political effort by the right wing in israel and the religious nationalists to get more access to x. The mosque compound site known as the temple mount to jews a lot of what happens next will depend on the actions of Israeli Security forces and police there has been a precedent going back many years that normal thems are not allowed access on a major muslim festival day but that president was broken earlier this year in june the end of ramadan coincided with a jerusalem day which is when jews and israelis mark the seizure of East Jerusalem by Israeli Forces in 1967 there were limited scale wishes at the site as a result of the Police Decision then to allow jews in on that day a lot now depends in terms of how confrontational this sunday becomes a lot now depends on the actions of Israeli Security forces. Well the whole area is central to the Israeli Palestinian conflict and a constant flashpoint is both sides lay claim to it jews referred to it as temple mount which luxo