Not do what the ecb wanted it to do was one of the comments i saw yesterday. The old the other question was about Mario Draghis comment that this would be the last Interest Rate cut but skepticism about that. Is it all that the ecb will do . It looks like there is a more bullish read that is happen in the u. S. And in europe. The rally to date means that for the year to date, major averages have trimmed their losses considerably, particularly the s p and the dow, now let now doubtless than 2 on the year. Of forss than 2 the year. Signs ise positive counterintuitively been the losses in the highyield. , this looks at the s p 500 total return index in blue. The bank of americahighyield index and he is pointing out that of the last four times we saw high yields fall on an annual basis, stocks then rallied the following year. This looks back at the prior instances when this happened and and stocks rallied. That is one of the reasons he is looking forward to be bullish. We will see if the r
Decision. And seth marion is here over worries about characterizing volatility. Jon lets get a check on the markets for you. Futures positive, dow futures up 41 points. Over in europe, after the gest weekly drop since euro weakness, switching of the board, eurodollar was on a fiveday losing streak. 1. 1389. In there at and then nymex crude, up two full percentage points. It is seen as a tussle between the news over the weekend, the new oil minister in saudi arabia, and what is happening in canada with the wildfires spreading over there. I want to go live to the city of london and get the latest with bloombergs will kennedy. Lets talk about the immediate the spread of the wildfire, the reality that one Million Pounds of oil a day, production, has come off. How shortterm is this . That is a very good question. At the moment, it is a Million Barrels. Even if the fires calm down, which it looks like they are doing, it will be at least a week before they get back online. Many thousands of w
Once that powerful explosion took place, the walls were destroyed in seconds, allowing at least three attackers armed with hand grenades and wearing Afghan Intelligence uniforms got inside the building and started shooting at at least 50 members of the force that were supposed the first Vice President , second Vice President , and chief executive officer. Were undergoing training aimed at protecting these senior officials from such attacks. They did not have arms or weapons. The pictures are too graphic to show that i have seen. They show how at least 10 members of the Afghan Secret Service were killed in what seems like an executionstyle shooting. Understand, that most of those killed and injured were civilian. At least 27 were injured. This is the heart of kabul city. The downtown, if you would like to call it that. They are calling it a terrorist attack. He has but kabul and many of the other cities on high alert. Efforts will be taken to protect kabul. We dont know what extra measu
I got a glimpse in the markets mind today. I was able to do a genuine vulcan mind meld. While you can look at the average dow gaining 116 points, s p climbing 0. 5 and nasdaq advancing i actually know precisely what happened inside the market today. So listen up, because reality is stranger than the Science Fiction notion of inside cranial information. First off, if you didnt know it by now, all that matters is the direction of oil. We live and die with oil. You figure out where oil is going and you figure out where the market is going. One look at this market, tells us we collapsed because oil collapsed first. Okay. Here we go. This takes us down. And the s p 500 bounced because we hit a technical level right here. But these are one and the same. This is a few seconds earlier. Dont believe me, you think im cherry picking on the big decline one day in the life of the market i have an idea. Do this for me. Set your alarm to 3 00 a. M. All right. You can stay extra half hour. Set your al
We live and die with oil. You figure out where oil is going and you figure out where the market is going. One look at this market, tells us we collapsed because oil collapsed first. Okay. Here we go. This takes us down. And the s p 500 bounced because we hit a technical level right here. Above the average line. But these are one and the same. This is a few seconds earlier. Dont believe me, you think im cherry picking on the big decline one day in the life of the market i have an idea. Do this for me. Set your alarm to 3 00 a. M. All right. You can stay extra half hour. Set your alarm to 3 30 a. M. Like i do. Check out as trade trades down a few pennies and the s p trade down a couple of picks. All in a vacuum. Pajama trader, selling the s p. Oily tail and never the other way around. But today i saw something amazing. When i peered into that cerebral cortex of this market, what i saw was not that the averages do well when oil goes higher. Its that certain parts of the market do exceedin