That requires a 6. 4 decline we are just around that level at the moment the s p is on pace for its worst week since november 2008 the nasdaq since january 2016. You know what, the dow especially, comparing it to 2008, the drop we had was Something Like 17 yes, its the worst since then, but were still nowhere near where it was 18 . Was it 18 thank you. The key level is 23,885 if we go below that at the close. It is the worst week since 2008. But nowhere near as bad as that week. Exactly well check the action as we look to close out this week. What a week its been. Bertha coombs is at the nasdaq watching the movement there. Bob pisani on the floor of the nyse bob, lets start with you on the session today. Im a little encouraged today for the first time all this week because were starting to see a little bit of buyer interest let me show you an intraday chart of the trading activity. Ive circled the key point almost every day this week, we have seen rallies on lighter volume and the decl
Uptick utilities is the Top Performing sector, i guess we could say it had a pullback. It did hit a nine year high today. Tech strong, Consumer Staples are strong lets begin with dominic chu wh is following the stock market. The stock market might be a little bit ways away from getting back to the highs before the selloff, we looked at the s p 500, it turns out that 93 members of the s p are 5 away from claiming those 52 week highs or better that theyve seen 81 stocks have hit highs so far in 2018 alone. And a handful, 13 of them, has hit 52 or better just this week. Some of the stocks that are a doing better job of getting back towards those record high levels, check out vf corporation, a big apparel company. Its within. 5 of record high levels northrup grumennond cne group also within 1 nike, close. A bunch of big names are doing a decent job at getting back after the losses weve seen. The big question on the minds of investors is if the rebound is wahappening too fast. Who would hav
Extraordinary upside moves we saw this year but now the action is just as extraordinary on the downside as what we saw moving higher since we turned the calendar. This is when we start to dust off the old adages down is quicker typically than the up markets weve had all a rise, we dont have to remind you of that, but the we have to pay the piper and the dow is down by the way, you cant compare the percentage terms down 802 on the dow. Biggest point decline prior to this was 776 during the financial crisis now, back then it was 7 , 8 drop today were talking 3 its rare to see that kind of move well show you everything going on with the spiking volatility. Its unsettling because it happens all at once. Well bring mike santoli in in a little bit we were talking about how the market has changed in 2018 compared to what we saw the last couple of years. Where most days the move higher would be a small one we were hitting base hits or doubles or something now weve been hitting home runs both u
The rise in inflation we heard about this morning the Consumer Price index, cpi, up from a month before meaning grosh groceries to gasoline are more expensive, transportation to retail to restaurants, we have the impact in a moment, but, first, lets get to bob pasani and talk about the surge for stocks, bob, what happened what whang changed . Look at the vix, it was down even this morning when the markets were down prior to the open on concerns about the cpi better than expected all the people who panicked had to unwind with the option explorations telling you they are not as worried about volatility in the next 30 days as what the vix measures, a good sign traders believe theres less panic in the market. Number one number two, look at the groups moving yes, inflation is a concern, but rates move up, banks outperformed here today, outperforming again. We see Interest Rate stocks sell off, and that happened in january, going into february as well, so, again today, utilities are down, at
Major averages are moving higher we have a panel of experts coming up here shortly. Dont forget about earnings we have a bunch coming our way after the bell, including disney well have an exclusive interview with ceo bob iger. Looking forward to that. First, though, theres also some news out of washington at this hour lets get down to aeamon javers with remarks from the president. Reporter it came about the dangers of the ms13 gang. The president talking about immigration saying he ultimately might want to shut the government down if he cant get a deal on immigration this week. Heres what he said. Id love to see a shutdown if we dont get this stuff taken care of. If we have to shut is it down because the democrats dont want safety and unrelated but still related, they dont want to take care of our military, then shut it down. Well go with another shutdown reporter the president there seeming to embrace the idea of another Government Shutdown on february 8th, later on this week thats th