Invariably fail to acknowledge the sheer resilience of this amazing market. Including today dow inching up 18 points, s p advancing. 20 . Nasdaq gaining. 30 . . Hallelujah . During this week in 2015, we were assailed by a combination of fears that led to a decline of nearly 2,000 dow points over just 6 straight trading days. 17,545 down to dow 15,666. Including one day where we shed more than 1,000 points. Before an afternoon rebound trimmed the decline to a heartpounding 588 decline. It was a stunning meltdown back then. Go back to the darkest days of the Great Recession of 2008 to find a worse stretch. For those who dont remember, there was so much going wrong all at once it was hard to comprehend. First the chinese stock market the communist government lost control of stocks over a frenzied period of speculation. The shanghai composite plunged to 2,965. After its already hideous fall from 5,178 earlier that spring. Back then we feared china was experiencing the great the Economic Gr
Me as well. Lets have a look at u. S. Equity futures at this hour. Decent day yesterday around about 1 in gains for the main markets sparked by big gains for oil prices. Were looking at gains once again today. Almost triple digit for the dow. 85 points in the green are u. S. Dow futures. The s p called higher by 11 points. The nasdaq by 32 points. Lets have a look at the yield on the ten year. Weve come away from that 1. 7 level we hit last thursday. Were close to 1. 8 . So risk sentiment has just improved over the last week or so. 1. 781 on the u. S. Ten year this morning. Now, Bank Earnings are likely to set the tone for the trading day. Jpmorgan set to post results shortly. The financial giant expected to report earnings of around 1. 26 per share on revenue of 23. 4 billion. This will be the banks first yearoveryear earnings decline in five quarters. Shares of jpmorgan since the start of 2016 up there for you now they are down 10 . Just over 10 . Theyre flat in premarket pretty much
The yen soaring on the news. Does that excite you . With kelly here. Kelly can yes she loves currency stuff. Its crazy. Talking about 108 . Just the move. Look at that chart. I dont have a lot of insight. But i think it is remarkable that it can get whip sawed like that. Everybody piles in thinking it can only get weaker and then here we go. Live by the sword, die by the sword. Anyone putting their foot on the accelerate anywhere around the world is usually a boost and i thought really . This causes us to go down . Well the turnaround for japan. It was interesting when they did the negative rates thing in the first place. And everyones trying to do the same thing. But it was that moment they went negative you actually started to see things go the other way and it hasnt stopped since. When they go negative. Politicians do that a lot. They promise to not do that. I have to say two things. Can i compliment you this morning on two things . The tie and the haircut. Thank you. And dye job ho
Go down less than others. Everything is being brought low by the gravitational pol pull of weakness and fear world wide t. Dow plungeing 262 point for closing and reversing down 79 points while the s p declined 4. 3 and the nasdaq fem just 4. 73 . Weve got some first class information, as etell ceos, you need to stop taking the losses personally. Look the market stinks. It might keep stinking until it goes lower. All the weak hands that keep expecting Something Better finally capitulate. Let me give you concrete examples of pasta that dont seem to mean jack in this mark. So you can stop being so frustrated by the action. First, have you noticed the horrendous problems of volkswagon is spilling over to stocks of auto makers. There is some concerns bmw might have emission problems. Whats bad for the goose is good for the gander. And in this case, thats every other Automobile Company on earth. Come on. Bmw has to be in total disarray. There is snow way its sales can hold up at all. Will i
We get a ball game like broncos and packers on nbc, that could boost Buffalo Wild Wings numbers, especially if the mets make a comeback in the world series after kansas city. Then again, you come back to labor costs, insurance costs, food costs. These are across the board issues facing all restaurants. The disappointment makes some sense. Making these more palpable, two chains got dinged today. Mcdonalds and dominos. Dominos has a monstrous 800 million buyback. Dominos is the antithesis of the typical restaurara stock because it takes franchise fees. These costs are borne by the franchises. Buffalo wild wings has higher in other words, stay away. The saving grace, as these restaurant stocks come down, they get cheaper. Im inclined to wait three or four days to get the lay of the land. Ill be speaking to Howard Schultz tomorrow morning on squawk on the street. That Company Reported what looked to be a disappointing quarter but we cant opine until we sit down and listen to the conference