Point process the days highs to the lows and back up again. Todays move alone, 849point swing. We were down more than 400 points about an hour ago, and heres what happened. The s p dropped to whats called the 200Day Moving Average. This is a socalled major technical indicator that stretches out over 200 days as a trend. When you drop to that and hit it and go below it, that kind of makes the markets do squirrely things. It triggered a move, and the move was to bounce up higher. People saw that lower level, they swept in at least some of you out there and started buying. But both the dow and the s p 500 we do need to remind you at this moment remain solidly in correction territory. That means its more than 10 off the highs of january 2016. That was a record high. The nasdaq is just slightly below that at the moment. Were watching it tick by tick here. So far the u. S. Markets shedding some 3. 2 trillion this is on paper over that time, and its according to the wilshire 5000 index which
Come prices falling a Third Straight month, new home sales falling to a five month. Adam what will jumpstart the Housing Market . Tweet us that Cheryl Casone or a j chaps. Cheryl after months of speculation, box announcing plans to file its initial public offering. The latest hot tech company to jump into the public for a. Joline kent joins us with details on what we can expect. Box aiming to raise 250 million. If you have a question for investors why go public right now with so much venturecapital out there . The filing just needs money. Box was recently valued at 2 billion but only has 100 in Million Dollars of cash and equivalents on hand, if you do the math, box has less than a year of byrne left. Year end january, posted a net loss of 168 million versus revenue of 124 million anthony s. 1 filing. And not profits in the foreseeable future, but aaron levy is bullish about what lies ahead. The 29yearold is counting on revenue to grow and in its filing, research from idc saying Digita
Angle. The only Goldman Sachs angle here is like two days ago there was an issue with option markets from the outside in that case goldman. This feels once again this isnt an exchange problem, not a problem within the nasdaq. Sounds like something from outside coming in that they dont understand or cant gauge and that is going on. That is the only comparison i am making. There are so many market players. We have the centralized exchanges that are supposed to be responsible and a palpable. Everyone is feeding off of their data and going in, one big happy melting pot of a global marketplace. What is happening is a lot of stuff happening quickly and even the people in programming dont understand what it is and that is my only point. My point is tuesday was goldman, today we dont know who it is. It could come from anywhere, some kid in his basement. Cheryl i want to clarify the breaking news situation and make sure i clarify again theres a lot of speculation, do appreciate you weighing in
And oil very high today. Right. Crude oil doing its best day in a year and a half now. Seeing the kind of rush to a safe haven you might imagine here, kel inlts sure. The risk oh version trade playing out globally. Keep a close eye on the japanese yen strengthening, testing the 97 level. Not there in quite some time pap hit for emerging markets and exacerbating a lot of the pain we saw coming into this week already. A lot to cover. Especially this last hour of trade. Lets get you caught up. Hope you can stick around. The dow,s nasdaq, s p, all testing support levels today. Theres the nasdaq down 72 points. Bic big decline of almost 2 at 3585 and change. The s p down 1. 5 down 23 points at 1633. This month shaping up to be one of the worst for the us stock market in more than a year. Bob pisani, everyone on the floor, must be talking syria. You have problems when everyones Reading Foreign Affairs policy magazines. The problem is sesi syria is ata tipping point. The government problems,