Child for antitrust how it could become the post posterchild for a market pullback time to risk less. Theres a growing sector of the bank any time theres a growing activity in the banking seccer it to could be time to take a breath carter thats right, with the bump up in rates, regional banks have come back to life in a big way theres been m a in the Asset Management space so were going to look at some of these areas of the market in relation to the republican and zero in on blackrock the first chart you have three lines even though it looks like two. The top line is the s p. The threeyear chart, s p up 38 . The two other lines are tightical and two separate Industry Groups in the s p the first is s p 500 investment banks and brokers, thats goldman sachs, Morgan Stanley and others and the other is s p 500 Asset Managers and trust banks, things like t. Rowe, blackrock, invesco, state street and so forth imagine on a threeyear basis having no gains. Look at a chart since the financial cr
Alphabet seeing outsized gains and treasury yields are under pressure giving back some of their recent pop, thats weighing on the financials the Kbw Bank Index is down around 3 with 59 minutes left in the session, banks one of the few decliners, sara, broader markets ripping up. We have a great lineup of guests over the next two hours to help make sense of the election, the market and your money. In just a few moments Guggenheims Scott Minerd will join us with his take on the rally and later we will hear from long time pharma exec fred hassan about the impact of the election on health care, those stocks zooming higher, plus kyle bass with a take on what all this means with the u. S. Relationship with china and bob diamond will weigh in on the banks. Lets get straight to the market rally that is happening. Mike santoli tracking all the action. You see a move like this, its very sudden, very dramatic in response to a widely watched known catalyst and you have two things, one is whats the
Hang seng is flat. Taiwan is the leader on the board. We will talk about tsmc. They are gaining on the back of the apple news. We continue to watch dollar renminbi. 16 month high for the yen. We could be set for the best performance ever for the renminbi. Look at whats going on the rest of g10. Still seeing a strong yen. Pound is gaining for a third day at 129. The dollar falling to the twoweek low ahead of the fed decision. Take a look at bond yields ahead, not much movement. Its pretty quiet before the fed. Six the seven basis points for u. S. 10 year. Bondsl off in government the fall off in government bonds may have run its course. Saw the biggest cash injects and since 2018. Crude jumping on the back of that Better Chinese data we got yesterday. Back to our top story. A big win on paper, but not much in the real world. Says that Donald Trumps tariffs on chinese goods violated International Regulations, but its unlikely to make much of a material difference. Lets get more from our
Becky is off today. Looking in the green nasdaq to open about 78 points higher and looking to open higher as well also 22 points higher. Also treasury yields youll look at the 10year note at. 681. We have a lot going on today on the data front, details come at 8 30 eastern. Breaking news overnight. The House Transportation Committee issuing the final report on the 737 max list the failures that led boeing to design and the faa to approve the software that contributed to two crashes. Around the Safety System called mcas accusing boeing of concealing the information. Including concealing the existence of mcas from its pilots boeing says it learned many hard lessons as a company from the accidents and from the mistakes we have made as this report recognizes, we have made many changes to our company. They expect to get 737 max back in the air in the Fourth Quarter. Congress is expecting legislation to review the safety reviews of new plane models. Reporting that there was no singular mista
Beijing praises the decision while President Trump says he is not a fan. A focusson says now on his cabinet lineup. And plans for structural reform. Are seeing a lot of investors sticking by the sidelines, a quiet session in the u. S. Overnight. Wall street hanging out to see what further guidance we get from the fed after their decision. A great chunk of investors will be waiting for more details as to the revamp inflation target. We are seeing futures trading flat. This after we saw u. S. Stocks rising. The s p seeing a Third Straight session of gains. For a change, we saw gains across tech, outweighing the decline we saw across financials. Treasury yields at the dollar end of the day, where they started. We are seeing the likes of the dollaryen holding steady, this as we look set to see the appointment of yoshida suda as the new japanese Prime Minister. As well as hearing more about whether we will see continuity across his cabinet appointments. We are watching at to see if another