This is after the bell. S p 500 down six days in a row. All three major averages down more than 4 on the worst pace for the financial crisis since 2018. We have fox Business Team coverage, blake burman at white house, Deirdre Bolton on the floor of the new york stock exchange, phil flynn watching oil at the exchange. Lets kick it off with deirdre. Reporter a lot of superlatives. Closing with the worst week since 2008. Look at stocks that pressured the average most. Microsoft for two reasons. Company says for the Current Quarter not what they expected. This is very much related to the coronavirus. Microsoft gets at least 10 of sales from china. Apple moving lower on the dow as well all day. Like the bigger picture, going down towards the end. Apple last week saying again sales this quarter will be lower due to effects of the coronavirus. One stock i was tracking all day, limiting losses, i dont know if we can say that with 1000 points down is 3 in. A part of what 3m makes are masks. You
Im mark barton in london. We have stocks falling for a fifth day. It was a central bank heavy day yesterday with yellen, carney, and draghi speaking. Against theup dollar, rising to a oneyear high, 1. 1381. The yield rose the most sense january yesterday after fed chair janet yellen spoke. The u. S. Can withstand higher rates. 0. 1 ,mex crude is down by falling for the first day in five u. S. Days. Crude stockpiles rose, exacerbating this government data. Inventories extended declines from that record reached at the end of march. Lets get the bloomberg first word news with sebastian salek. Reporter a new cyber where attack has reached asia after spreading from europe to the u. S. Overnight. With being carried out users told to bitcoin. Ransomeware is becoming a routine risk of doing business around the world. Senate republicans have postponed the vote on a new Health Care Bill after at least five gop members said they would not vote for the bill. The delay is another setback on the rep
Coming up, well tell you whats behind the crude comeback. Thats coming up in just a moment here. Janet yellen and the fed leaving rates unchanged for now, but a warning that a hike could come in december. Well look at the impact that theyre having. Meanwhile, hes at it again. Carl icahn revealing hes taken a large stake in insurance giant aig and hes urging the company to split into not two, but three separate companies. We have the latest details on that. The stock has been up about 4 or 5 in todays trade. Lets begin with todays spike in crude oil. Jackie deangeles, back about 45. Good afternoon to you. This was a move that took a lot of traders by surprise. Let me break down what happened for you. The session low, 43. 06. You can see this incredible range that we went through today. The rebound in part was due to the fact that there was some selling pressure in the last three sessions. Not really enough conviction to take us down to 40 as some were predicting. Ahead of the fed this m
M. We are breaking records but it is in light volume. Sth santa claus rally off to a strong start, day after christmas, a day where usually the s p finishes to the plus side 78 of the time. We want to point out groups that are leading the markets higher today. Utilities and health care, these sectors are the best performing. Leading the way, of course, they are rate sensitive. Utilities stronger throughout the year. Pull back a little bit in response to the weakness in crude prices. Retailers in the wake of numbers coming out. And then the International Council of Shopping Centers saying the growth this year for the Holiday Shopping season will be strongest in three years pretty much as expected. Those are best performing retailers. Amazon up on the news that it added 10 million prime customers. The dow just actually at its best levels of the day. Thank you very much. Lets get to Bertha Coombs where nat gas is falling today and dropping below 3. The first time in a couple of years. It
Stockpiling, as well. The tenyear did pick up the 287 off just a touch now. The ecb hold rates steady. Our road map this morning, the market, strong gdp claims data putting pressures ahead and sparking more concerns about potential fed tapering. Apple is in the news for reports ooh a deal to china mobile and carl icahn is revising his call for a Share Buyback. Well look at the winners and losers in retail. Wow. First up, though, the tenyear notarizing on better than expected economic data, revised Third Quarter gdp up 3. 6 while weekly jobless claims fell below 300k. This all happened on the 17th anniversary of Alan Greenspans irrational exuberance speech in 1996. How do we know when irrational exuberance has unduly escalated asset values which then become subject to unexpected and prolonged contractions as they have in japan over the past decade. That leads us to a good question, jim. Last night, you all you did was talk about the data getting stronger which takes away the bubble argu