86 points. If youre looking at the treasury market, this has been our big interest point. Right now it looks like the 10year is back where it was yesterday, not back above 5 even though yields are a little higher. 2year is at 5. 08. Crude prices around 85 a barrel this morning, wti is up 3 cents, and then crypto is on fire. If you check out sessions this morning i dont know why i say sessions. Bitcoin is always trading, never stops. Just above 34,000 this morning. Meantime lets talk about todays squawk planner. Boeing, norfolk southern, and tmobile. After the close well get reports from meta, ibm, and mattel. And as joe said, the drama continues for speaker of the house. Tom emmer ended his bid. Dozens of larms and former President Donald Trump expressed opposition to his candidacy, last night choosing mike johnson as their next nominee. A social conservative from louisiana. Hes a former analyst and radio host and served on president trumps defense team during his two impeachment trial
Bearish strategist has finally capitulated. It is nvidias week. Four analysts upping their targets ahead of results on wednesday. And apple reportedly edly slash iphone prices to count huawei. A historic week for stocks, jim. We got to 40k, we hosted 11 on the vix, but just barely, but we did. People are stalki talking ab stock market. For the long time, they talked about my tomatoes. And then say, wow, what is that about . People who have not been in. People who are thinking, is it too late . I try to present a constructive view. But its gotten in peoples minds, carl, and also numbers from gallop last week who said 62 of the people are back. Someone in their house owns stocks. Thats up from 52. Which was interesting. 52 was the low, which is just when the dow got back to where it was before 2007. So, you had 2007, people got back to even and they left. And now genz, gen x back. Millennials back. Boomers i think just blown out and dont rely. And its quite encouraging, because if we can
Could overwhelm the inflation fight and get fiscal policy under control could mean a big shock for the banking system. Hell lay out the options available both to the fed and lawmakers. The coceo of Morgan Stanleys real estate arm is here to explain her strategy and how its change in the face of higher yield as well as what opportunities shes seeing overseas. Before that, for once, dom, i get to say session highs. Yes. You can say session highs right now. Thats exactly where we sit. If you look at the markets overall, with the s p, remember on friday we talked about that kind of 200day moving average, that longer term trend line, 4233. We are now solidly above it, but it wasnt the case earlier today. We were down as much as roughly 35 points on the s p 500. Right now as you point out, session highs, up 30. Y is its been a fairly large reversal during the course of the day, so you wonder whether or not some traders were out there looking at whether or not we could bounce off the longer t
Security. We will stick with washington. Jim jordan preparing for round three of the speaker vote today. And the bottom may be in for the second largest economy in the world. Chu China Central bank takes new action to shore up the market there. It is friday, october 20th, 2023. You are watching Worldwide Exchange here on cnbc. Good morning. Welcome to Worldwide Exchange. Im frank holland. Lets start the day as we kickoff the hour with the check of the stock futures. Right now, lower across the board. Dow opening up 30 points lower. Nasdaq taking a leg lower. S p is flat. This after a rough session for the averages which saw the dow, s p and nasdaq close nearly 1 lower. The dow transports and russell coming off sharp declines. They are on pace to extend the multiweek losing streak. The dow down over 1 . The russell is hard hit down 1. 5 . Fed shchairman jay powell is making a case there is likely more work to do. We have models for everything. We have formulas for everything. As a pra p
The last, earnings and rates. Earnings have been good for the most part. Rates are not going in the right direction, though. 100 . To a certain extent youre watching oil a little bit. Oil is up. Its about ten year and the ten year approaching 5 . 30 year above 5 . This is a challenge, a problem. We know whats coming with the treasury announcing what their supply will be. I dont like the premises because the bond market is doing the work for the federal reserve. Whats the impact on the market . From someone who is bullish on the ability for the Fourth Quarter to be positive driven by the magnificent seven. Today is an ugly reversal, not a day for the bulls. Today is a day for the bears. This is not a pretty reversal. And the only thing keeping the market from deteriorating further is apple, alphabet, and microsoft. They are providing a degree of resiliency from the market moving even lower. Well get into whats at stake. Netflix and tesla after the bell, too. A good test, apple is negati