Points are we seeing signs of a top well break down head winds. We have a 6 billion chip acquisition to tell you about this morning and what it means for other potential deals as well. And retailers gearing up for black friday but walmart gets slapped with a downgrade over at goldman today. We have the latest on the Retail Sector as we begin an abbreviated trading week due to the thanksgiving holiday, the dow and s p east in the midst of a twoweek losing streak na nasdaq coming off the Third Session and bit coin surges past the 8,000 mark over the weekend. I think the high 8101. 91 theres discussion whether or not it can hit 10k. I was thinking about zimbabwe, whoever has money may want to go to bitcoin. A chinese crackdown, they go to bitcoin. Venezuela, natural bitcoin because its defaulting on everything when you see defaults and people realize currency may be devalued, bit coin seems to be a Good Alternative jack dorsey this weekend disagreeing with sara fryer, the cfo of square. S
Vote. Se we are basically seeing this global flight to safety. Look at the japanese yen surging to a twoyear high against the u. S. Dollar. Brexit worries, rising pressure on the bank of japan to respond with a bigger stimulus package in july. The british pound continues to hover around a sevenyear low, coming off the lows. The bank of england warning of further weakness. A pick up in risk aversion helping gold shine, up 23 year to date. And pushing bond yields lower, not just in europe but here at home. The u. S. Tenyear dropping to a fouryear low. The fed statement also part of this story. In terms of stocks, its the european banks that remain under pressure. Active discussion on which banks would be hit the hardest, especially when you consider relocation costs. Shares of deutsche bank. An alltime low. Hsbc among others down about 18 over the past three months. If youre looking for price reaction in the equity market, its those european banks. I think well see more of it as we head
The hang sentence by 0. 75 . And hang seng slightly weaker. Right now, things are flat, relatively flat across the board. Youre looking at the dax, barely budged. The cac is slightly higher, wti was up for the second day in a row weve seen a gain of 7 over the last couple of sessions. Going back to 48. 96. These currency traders better know what theyre doing. That better indicate theyre going to stay. They better know what theyre doing. Right. But still, the polls are pretty even still. Betting markets they bet that it breaks first day. When People Get Ready to do it, they think, oh, my god, what am i they get too nervous. They say theyre going to be leaving and they dont. Obviously, the pound is hitting at 1. 47 this morning. George soros, the financier who has made a ton of money the last time it collapsed. His warning you could see the pound go to almost 30 if there is a brexit vote. Lets go to wilfred who is watching what is said on all of this, wilfred frost joins us right now fro
Heres a rally thats not supposed to be happening. [ buzzer ] this one just wasnt in the cards. Sure, tuesdays session, day one of a rally at the britishinspired brutal selloff. That makes sense. Weave ve just gotten through w two of the worst sessions. Day two also seemed like an unusual but reasonable possibility, because we had a big takeover, surprises, rally in oil, but today . Today when the dow gamed 235 points, and the nasdaq at 1. 33 . This was outrageous in its audacity. So few people believed that it should be allowed to take place. It was a totally unexpected surprise. [cheers and applause] let me explain. Go back to a week ago, today. We had just gotten pretty close to surety, surety that the remain camp was going to win, that there would be no brexit. That the European Union would be preserved. And a house divided against itself was going to stand. And i remember boarding a plane back to new york from San Francisco with my daughter, just before the first returns were in. T
Be wary of . All things to talk about coming up here. Plus, speaking to a top strategist for a take on which sectors could be big winners of the uks move to leave the European Union. And one industry really hurt by brexit has been the cruise lines. Coming up, carnival ceo with us telling us how the uks plunging pound could affect his companys bottom line in a little bit. Also, nike set to report earnings after the bell and give investors a good read on the state of the consumer spending. We will have instant analysis of those results here on the closing bell. Lets start with rebound and whether its a head fake or not. Bob pisani, what say you . For the most we are doing well and going into the end of the quarter. Just off the highs of the day. Oil is moving up, as well, in the middle of the day. Take a look at the sectors and tell l you whats important. Most beaten up sectors in the quarter moving. Bank stocks and retailers that are horrible and restaurants and thats the jets, the airl