Been seeing a lot of industrials, energy companies, airlines, travel Companies Taking the brunt of the selling. Now it has spread to the leaders. 4 , then a little under worst day since october 28. I think that is one powell said neutral. All down more than 4 , basically the big laggards today. That is what you get. Scarlet the dow and s p negative on the year. Nasdaq Still Holding onto a gain of 2. 8 . Lets check in with our market reporters to say what they were monitoring. Abigail, get us started. Abigail i am thinking about the selloff we had on this day and putting it into the context of a chart we have looked at frequently, because it feels like it is from out of nowhere, but many the surface there have been indications we could see this action. This chart goes back to the beginning of the coronavirus outbreak as we were reporting on it. A little more than a month ago. In yellow is crude oil and copper is in pink. Both of those commodities down about 10 . At the lowest crude oil
98 of the stocks to the downside s p 3,000, 10year yield at 1. 25 if you were right on this move, thats a really logical place to say, fine, let me cash in a little bit i think thats what we saw this morning. Not to guild d lily, but we were almost 1,000 points caterpillar has had a spurt in the last few minutes 3m has been positive merck and pfizer im not saying anything is turning around but some people are buying here. The problem is the information vacuum here. The old saying, you cant trade on fundamentals, trade on the technicals the problem is we cant trade on the fundamentals because we dont know what the earnings in the p e ratio should be right now. We saw that with the dispute with goldman going to zero percent Earnings Growth for 2020 then technical, everyone was saying were watching the 200day moving average, we went through that just after the open its hard to trade on fundamentals right now, hard to trade on the technical, and we need a lot more information on whats goin
Mallicoat. And we will take a look at the weather. I had a little fog on my drive in. So it is the north bay. A little fog and a little bit of a low cloud in the area. It is pretty, taking a look now, you can see the sun coming up. Right now the clouds are causing some visibility issues. A quarter mile visibility in santa rosa. Everyone else is looking pretty good. On the 101 coming in, watch out. The wind is risk this morning. Check out oakland, 14 miles an hour and that has calm down. You can see them gusting at 25 in hayward. We have an onshore flow happening. You can look at the radar and the satellite and that is whats helping drive the clouds in. That will change today and we will get beautiful sunshine. The wind will become northerly. It will be sunny skies and cool and clear. We will take a look at your current temperature is now, 49 in San Francisco. 36 in santa rosa where they have the fog. We will talk about the extended forecast when we come back in a bit. New this morning
Are looking at some of our heaviest of rainfall out there to pretty easy to see where this rain is that its just a line of showers stretching north to south across the bay. In this line of showers is just going to continue to sweep through throughout the morning by 10 00am those showers pushing further into the east bay further south on the peninsula and eventually into the south bay come 00 30am in the morning. Theres your snowfall in the mountains above san jose rainfall continues to push further and were still looking at moderate showers in arealike San Francisco and portions of the north bay an upsurge in rainfall into the just post nooime hour right there so after the lunch or like the to see a few more areas of heavy but brief showers but for weise finally see some sunshine reappearing in some clearing conditions later in the day dont put your umbrellas away just yet isolated showers will stick wi us through the day. Now when has been the other factor through the morning obviousl
By and by down by the sleigh well wander, sweethearts you and i wait til the sunshines, nelly, by and by terrific. Merry christmas, everybody and one of the traditions is to bring children and grandchildren down on the floor. Theres a number of them here today. Tell me your name. Shannon youre the daughter of a retired member, right . Yes. His name . Michael spidaro do you know why the New York Stock Exchange is important . It makes new companies and businesses thats the right answer thanks mike, one of the big traders for gts does all of the Retail Stocks your work through the year, keeping the markets moving and keeping liquidity in the market. Thank you, bob. Merry christmas. Art cashin, 55 years, started almost this day, 1964. Thats correct. In the same book as John D Rockefeller and jpmorgan they were just a touch older than i am. Lets hope youll outlive them all by a long way thanks very much Merry Christmas. Thank you all for coming down for a great tradition that goes back 150